Share prices on Bursa Malaysia opened higher today in tight-range trading as investors sought for fresh direction, dealers said.
After 10 minutes of trading, the FBM KLCI rose 0.55 per cent or 8.16 points to 1,493.42 from yesterday's 1,485.26 close. The key index opened 4.18 points higher at 1,489.44 this morning.
A dealer said the local bourse is likely to remain steady in narrow trading as investors retreated to the sidelines ahead of the closely watched US non-farm payroll report.
Sentiments could turn bearish in the absence of market-stimulating news from the local front and in Asia, coupled with the weaker overnight close on Wall Street, he said.
HwangDBS Vickers Research said after posting cumulative 53.7 points gains or 3.8 per cent over three straight days, the benchmark FBM KLCI could swing sideways with a marginal downward bias ahead.
"The immediate support and resistance levels are currently seen at 1,475 and 1,500, respectively," it said in a research note today.
The research house, however, said Tenaga Nasional could support the local bourse as the power utility company would benefit from the fuel cost-sharing mechanism with Petronas and the government, which would translate to substantial cost savings.
Tenaga Nasional was among the major contributors to the key index, gaining 9 sen to RM5.77.
On Bursa Malaysia, the Finance Index gained 10.38 points to 13,338.72, the Plantation Index added 24.84 points to 7,842.47, and the Industrial Index climbed 31.06 points to 2,700.32. The FBM Emas Index jumped 42.72 points to 10,181.64 and the FTSE Bursa Malaysia Mid 70 Index rose 7.50 points to 10,964.88.
The FTSE Bursa Malaysia Ace Index, however, slipped 15.64 points to 4,138.66. Trading was moderate with 91.51 million shares worth RM57.37 million.
Gainers led losers by 119 to 61 while 96 counters were unchanged, 1,203 untraded and 15 others were suspended.
Volume leaders, Wijaya rose 0.5 sen to 24.5 sen, Sycal Ventures was 2.5 sen higher at 22 sen, while Compugates was flat at 8.5 sen.
For heavyweights, Maybank declined 3 sen to RM8.36, CIMB lost 2 sen to RM7.20, while Sime Darby gained 12 sen to RM9.16. -- Bernama
After 10 minutes of trading, the FBM KLCI rose 0.55 per cent or 8.16 points to 1,493.42 from yesterday's 1,485.26 close. The key index opened 4.18 points higher at 1,489.44 this morning.
A dealer said the local bourse is likely to remain steady in narrow trading as investors retreated to the sidelines ahead of the closely watched US non-farm payroll report.
Sentiments could turn bearish in the absence of market-stimulating news from the local front and in Asia, coupled with the weaker overnight close on Wall Street, he said.
HwangDBS Vickers Research said after posting cumulative 53.7 points gains or 3.8 per cent over three straight days, the benchmark FBM KLCI could swing sideways with a marginal downward bias ahead.
"The immediate support and resistance levels are currently seen at 1,475 and 1,500, respectively," it said in a research note today.
The research house, however, said Tenaga Nasional could support the local bourse as the power utility company would benefit from the fuel cost-sharing mechanism with Petronas and the government, which would translate to substantial cost savings.
Tenaga Nasional was among the major contributors to the key index, gaining 9 sen to RM5.77.
On Bursa Malaysia, the Finance Index gained 10.38 points to 13,338.72, the Plantation Index added 24.84 points to 7,842.47, and the Industrial Index climbed 31.06 points to 2,700.32. The FBM Emas Index jumped 42.72 points to 10,181.64 and the FTSE Bursa Malaysia Mid 70 Index rose 7.50 points to 10,964.88.
The FTSE Bursa Malaysia Ace Index, however, slipped 15.64 points to 4,138.66. Trading was moderate with 91.51 million shares worth RM57.37 million.
Gainers led losers by 119 to 61 while 96 counters were unchanged, 1,203 untraded and 15 others were suspended.
Volume leaders, Wijaya rose 0.5 sen to 24.5 sen, Sycal Ventures was 2.5 sen higher at 22 sen, while Compugates was flat at 8.5 sen.
For heavyweights, Maybank declined 3 sen to RM8.36, CIMB lost 2 sen to RM7.20, while Sime Darby gained 12 sen to RM9.16. -- Bernama
