KUALA LUMPUR (March 12): Bursa Malaysia extended its gains to close higher for the fourth straight day on Tuesday, supported by continuous buying in most heavyweights amidst the recovery tone in regional markets, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 9.85 points to 1,554.56 from Monday's close of 1,544.71.

The benchmark index, which opened 0.24 of a point higher at 1,544.95, moved between 1,541.36 and 1,556.71 throughout the day.

On the broader market, gainers beat decliners 505 to 484, while 479 counters were unchanged, 802 untraded, and 12 others suspended.

Turnover rose to 4.28 billion units worth RM2.93 billion from 3.64 billion units worth RM2.71 billion on Monday.

Rakuten Trade Sdn Bhd equity research vice president, Thong Pak Leng said key regional indices saw gains due to a substantial influx of global funds, while investors await US inflation data which is poised to influence the timing of the US Federal Reserve's rate cut.

“With the upswing in investor sentiment, buying is expected, supported by consistent and strong inflow of foreign funds into the region, while the increasing daily trading volume signifies higher appetite for the market.

“As a result, we are adjusting our weekly FBM KLCI target range upwards to 1,540-1,560, with immediate resistance at 1,560 and support at 1,520,” he said.

Among the heavyweights, Maybank Bhd and Public Bank Bhd added a sen each to RM9.83 and RM4.31, respectively, CIMB Group Holdings Bhd rose five sen to RM6.72, Petronas Chemicals Group Bhd climbed seven sen to RM6.92 and Tenaga Nasional Bhd jumped 24 sen to RM11.48.

As for the actives, CTOS Digital Bhd declined 20 sen to RM1.25 and Hong Seng Consolidated Bhd eased half a sen to 1.5 sen, while Pan Malaysia Holdings Bhd garnered 8.5 sen to 22.5 sen and TWL Holdings Bhd was flat at 3.5 sen.

On the index board, the FBM Emas Index was 58.06 points firmer at 11,511.44, the FBMT 100 Index rose 61.18 points to 11,181.69, the FBM Emas Shariah Index increased 80.72 points to 11,531.39, the FBM 70 Index garnered 44.6 points to 15,482.89, and the FBM ACE Index perked 23.37 points to 4,722.01. 

Sector-wise, the Financial Services Index gained 38.37 points to 17,443.02, the Plantation Index increased 53.66 points to 7,356.6, the Energy Index advanced 2.43 points to 897.04 and the Industrial Products and Services Index ticked up 0.58 of a point to 175.99. 

The Main Market volume expanded to 2.65 billion units valued at RM2.65 billion from 2.35 billion units valued at RM2.45 billion on Monday.

Warrant turnover widened to 1.08 billion units worth RM126.67 million from 728.69 million units worth RM100.23 million the previous day.  

Meanwhile, the ACE Market volume swelled to 526.58 million shares worth RM148.18 million from 541.56 million shares worth RM164.55 million previously.

Consumer products and services counters accounted for 529.98 million shares traded on the Main Market, industrial products and services (413.07 million); construction (92.07 million); technology (680.38 million); SPAC (nil); financial services (137.12 million); property (387.74 million); plantation (62.04 million); REITs (14.72 million), closed/fund (17,600); energy (139.04 million); healthcare (66.31 million); telecommunications and media (30.31 million); transportation and logistics (37.66 million); and utilities (62.68 million).