Bargain hunting of blue chips lifts Bursa Malaysia higher

BARGAIN hunting of oversold blue chips amid an upbeat regional performance gave Bursa Malaysia a boost on Wednesday.

A rebound in oil prices and easing fears over the banking turmoil in the US and Europe also contributed to improved sentiments on the local front.

At 5pm, the FBM KLCI advanced 11.26 points or 0.80% to 1,420.35 from yesterday’s closing of 1,409.09.

The main index opened 1.61 points lower at 1,407.48, recording its intraday low but later hit a high of 1,422.69 during the mid-morning session.

Market breadth was positive as gainers beat decliners by 574 to 331 while 400 counters were unchanged, 986 untraded and 25 others suspended.

Turnover jumped to 3.42 billion units worth RM1.74 bil versus yesterday’s 2.83 billion units worth RM1.51 bil. – March 29, 2023

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