KUALA LUMPUR: Bursa Malaysia maintained its positive trajectory due to ongoing bargain hunting activities.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 6.66 points or 0.43 per cent to 1,551.42, compared to yesterday's close at 1,544.76.
On the broader market, losers had outnumbered gainers 952 to 205, while 339 counters remained unchanged.
According to Malacca Securities Sdn Bhd, traders are redirecting their attention to defensive sectors such as Utilities, real estate investment trusts and consumer goods.
"Other sectors that traders may focus on will be the solar, building material, oil and gas and packaging sectors.
"Meanwhile, investors might prioritise companies offering strong dividend yields," it added.
Malacca Securities expressed a preference for stocks within the gold sector due to the ongoing upward trend in gold prices, which are currently above US$2,350 per ounce.
In terms of commodities, Brent oil prices were trading in the range of US$86-US$87 per barrel, while crude palm oil prices dropped below RM4,000.
"This decline is attributed to anticipated increases in output and reduced demand following the Eid al-Fitr festive season," it said.