KUALA LUMPUR (Jan 24): Bursa Malaysia ended the morning session firmer on Wednesday, with the key index remaining above the 1,500-point psychological level, as risk appetite on the local bourse remained buoyant, ahead of Bank Negara Malaysia's (BNM) overnight policy rate (OPR) decision. 

At 12.30pm, the FBM KLCI had risen 6.42 points to 1,502.53, from Tuesday's close at 1,496.11.

The barometer index, which opened 1.05 points better at 1,497.16, moved between 1,497.16 and 1,504.44 throughout the morning session. 

Market breadth remained positive, with gainers trouncing losers 545 to 365, while 414 counters were unchanged, 963 untraded, and 19 others suspended.

Turnover amounted to 2.42 billion units worth RM1.42 billion.

Rakuten Trade Sdn Bhd said accumulation of stocks on Bursa on Tuesday remained in a controlled manner.

“We still see the 1,500 mark as a formidable resistance and needs to be broken decisively to maintain the index’s upward trajectory.

“Thus, for today (Wednesday), we expect the index to hover within the 1,490 and 1,500 range, while a rebound among the small-cap stocks has certainly eased some blood pressure for now,” it said in a note.

Meanwhile, BNM's Monetary Policy Committee (MPC) is holding its first meeting of the year, and will decide on the OPR later on Wednesday.

Most economists are predicting that the MPC will keep the OPR steady at 3%.

To recap, the central bank kept the OPR at 3% in its last meeting of 2023, making it the third pause in a row.

Among the heavyweights, Public Bank Bhd at RM4.36 and CelcomDigi Bhd at RM4.25 had added one sen each, CIMB Group Holdings Bhd rose 10 sen to RM6.12, Petronas Chemicals Group Bhd gained two sen to RM6.81, while IHH Healthcare Bhd was flat at RM6.

Malayan Banking Bhd (Maybank) slipped one sen to RM9.08, Tenaga Nasional Bhd lost eight sen to RM10.42, while Hong Leong Bank Bhd eased four sen to RM19.08. 

Of the actives, Widad Group Bhd at 18.5 sen and Leform Bhd at 19.5 sen were unchanged, Handal Energy Bhd shed one sen to 10 sen, while YNH Property Bhd was up 4.5 sen to 65.5 sen. 

On the index board, the FBM Emas Index rose 47.29 points to 11,191.47, the FBM 70 Index added 45.11 points to 15,170.83, the FBMT 100 Index firmed 42.74 points to 10,844.78, and the FBM Emas Shariah Index improved 29.73 points to 11,268.58.

However, the FBM ACE Index declined 5.47 points to 4,848.41.

Sector-wise, the Property Index picked up 11.09 points to 914.23, the Plantation Index expanded 32.61 points to 7,188.41, the Industrial Products and Services Index edged up 1.25 points to 175.0, the Energy Index gained 4.79 points to 862.95, and the Financial Services Index increased 39.81 points to 16,741.27.

Bursa Malaysia and its subsidiaries will be closed on Thursday in conjunction with Thaipusam. Operations will resume on Friday.