KUALA LUMPUR: There are growing opportunities for bargain-hunting on the domestic market following recent losses, despite the weaker investor sentiment.

Apex Securities Research said the positive performance of Wall Street indices overnight raises optimism that investors may be on the lookout for beaten-down stocks on Bursa Malaysia.

In the US market, the S&P500 and Nasdaq indices turned positive in the recent session as AI-leader Nvidia rebounded nearly 7% after a three-day correction.

"We recommend investors look into the technology and utilities sectors, which are likely to benefit from anticipated bargain hunting.

"Meanwhile, the financial sector and REITs will serve as risk-averse investment alternatives amid this market volatility," said Apex in its outlook.

At the open, the FBM KLCI was 1.01 points higher at 1,586.39.

Leading gainers included Dutch Lady up 48 sen to RM36.50, MISC rising 11 sen to RM8.66 and Magni-tech adding six sen to RM2.45.

Of actives, K Group was flat at 0.5 sen, Nexgram dropped 0.5 sen to 1.5 sen and JCY added two sen to 71.5 sen.

Blue chips on the rise included YTL Power adding four sen to RM4.71, YTL Corp gaining two sen to RM3.31 and Axiata rising three sen to MR2.62.

https://www.thestar.com.my/business/business-news/2024/06/26/bargain-hunting-could-lift-market-after-losing-streak