KUALA LUMPUR: Bursa Malaysia ended above the 1,500 level today supported by broad based buying.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.77 points or 0.93 per cent to 1,501.11 from last Friday's close of 1,487.34.
The benchmark index opened 0.94 of-a-point better at 1,488.28 and moved between 1,487.81 and 1,501.86 during the trading session.
On the broader market, gainers beat decliners 575 to 456, while 419 counters were unchanged, 769 untraded and 20 suspended.
Turnover increased to 4.98 billion units worth RM3.13 billion from 4.08 billion units worth RM2.84 billion last Friday.
Rakuten Trade equity research vice-president Thong Pak Leng said FBM KLCI continued to trend higher and finished above the 1,500 strong resistance level with broad-based buying.
Thong said key regional indices were also in positive territory as China kept its interest rate unchanged while injecting funds into the financial system to stimulate the economy.
"The overall market sentiment is lifted by the improving performance of regional bourses," he told the Business Times today.
In addition, Thong said the FBM KLCI has breached the 1,500 psychological resistance threshold and if this level can be maintained for an extended period, the firm anticipates additional upward potential.
"As such, we anticipate the benchmark index to trend within the range of 1,490-1,510 for the week with immediate resistance at 1,525 while support at 1,475 followed by 1,465," he added.
Among the heavyweights, Malayan Banking Bhd increased two sen to RM9.08, Public Bank Bhd added six sen to RM4.36, Tenaga Nasional Bhd rose 16 sen to RM10.50, and Petronas Chemicals Group Bhd edged up three sen to RM6.95.
Of the actives, Minetech Resources Bhd slid two sen to 18 sen, Hong Seng Consolidated Bhd inched up half-a-sen each to two sen, and Eastern and Oriental Bhd improved 16 sen to 93 sen.