KUALA LUMPUR: Bursa Malaysia rebounded on Tuesday supported by buying activities in blue chips following yesterday's heavy profit-taking.

At 5pm, FTSE Bursa Malaysia (FBM)  KLCI was up 0.47 per cent or 7.61 points to 1,629.68 versus Monday's close of 1,622.07.

Gainers led losers in the broader market with 684 to 448 while 513 counters were unchanged.

In total, 5.12 billion shares changed hands valued at RM3.59 billion.

On the index board, FBM100 was up 0.6 per cent to 12,200.22, FBM Emas rose 0.61 per cent to 12,624.54 and FBM Ace added 0.36 per cent to 5,912.06. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the firm is wary of the short-term direction of the local market due to external factors and rising global volatility.

"However, we are confident that the long-term outlook is stable, bolstered by strong fundamentals and appealing valuations. We anticipate the benchmark index to trend within the range of 1,610-1,640 for the rest of the week," he added.

Malacca Securities Sdn Bhd noted the FBM KLCI was lifted by the buying pressure in YTL-related heavyweights on the back of bargain hunting activities.

On the broader market, the construction sector was the best performing sector led by Gamuda Bhd which added 21 sen and IJM Corporation Bhd which was up 14 sen. On the flipside,  plantation sector saw the most decline at 0.15 per cent.

https://www.nst.com.my/business/corporate/2024/07/1080562/fbm-klci-gains-lost-ground-bargain-hunting-closes-just-shy-1630