KUALA LUMPUR: Bursa Malaysia saw an uptick at midday, fueled by continued buying momentum particularly in mid-cap and small-cap stocks.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.54 points to 1,543.61 from last Friday's close of 1,536.07.
The benchmark index commenced trading 1.43 points higher at 1,537.50 and fluctuated between 1,537.07 and 1,544.71 during the morning session.
On the broader market, gainers led decliners 501 to 392, while 447 counters were unchanged.
Turnover amounted to 1.81 billion units worth RM984.90 million.
In a note today, Malacca Securities Research said the overall market sentiment is turning more positively heading into the second quarter of 2024 (2Q24).
The firm said this is underpinned by the domestic catalysts such as stable political environment, masterplans being executed as well as firmer commodities prices.
"We opine that the revival of mega infrastructure projects could benefit the construction, building material and property sectors.
"We also like recovery theme stocks within the banking, consumer, automotive, while commodity related such as oil and gas (O&G) and plantation will be riding their underlying commodity strengths," it added.