KUALA LUMPUR (April 1): Bursa Malaysia opened higher on Monday, supported by buying interest in most sectors, said analysts.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 2.39 points to 1,538.46 from last Friday’s close of 1,536.07.

The benchmark index opened 1.43 points higher at 1,537.50.

On the broader market, gainers led decliners 224 to 126 while 314 counters were unchanged, 1,609 untraded and eight others suspended.

Turnover amounted to 160.24 million units worth RM62.56 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng expects sentiment to remain soft on Monday with the index hovering within the 1,530-1,540 range despite strong buying interests seen in the financial and telecommunications sectors last Friday.

On the commodity market, Thong said crude palm oil continued with its uptrend at around RM4,200 per tonne in line with the strength of other edible oils.

As for crude oil, Brent crude closed at US$87 per barrel amid a better economic environment and production cuts by the Organization of the Petroleum Exporting Countries and its allies (Opec+), and many anticipate the price to surpass US$90 per barrel soon.

Among the heavyweight counters, Telekom Malaysia Bhd rose seven sen to RM6.06, Sime Darby Bhd added two sen to RM2.62, IOI Corp Bhd was two sen higher at RM4, Sime Darby Plantation Bhd increased three sen to RM4.34, and Petronas Chemicals Group Bhd gained four sen to RM6.75.

Among the actives, Sapura Energy Bhd eased half-a-sen to 4.5 sen, Handal Energy Bhd went up by 1.5 sen to 10 sen, MMAG Holdings Bhd was flat at 19 sen, and Sealink International Bhd garnered one sen to 20.5 sen.

On the index board, the FBM Emas Index edged up 20.57 points to 11,592.16, the FBMT 100 Index increased by 19.32 points to 11,237.41, and the FBM Emas Shariah Index gained 20.80 points to 11,664.32.

The FBM 70 Index rose by 38.55 points to 16,272.63, and the FBM ACE Index climbed 8.05 points to 4,905.11.

Sector-wise, the Industrial Products and Services Index rose 0.54 of-a-point to 180.17, the Financial Services Index improved by 22.32 points to 17,295.59, the Plantation Index went up 29.60 points to 7,317.27, and the Energy Index advanced 4.76 points to 957.12.