KUALA LUMPUR: Bursa Malaysia may see mild profit taking next week, but the outlook remains positive, with players expected to continue reacting positively to the recalibrated 2016 Budget.

The market traded on a bullish note this week and a minor correction, if it happens, would be healthy, added a local senior dealer.

Meanwhile, Kenanga Research said with the exception of the telco sector, the 2016 Budget recalibration is fairly neutral to the local market.

"With some pro-growth measures, we reckon the recalibration will benefit selective players in the consumer and construction sectors, and emerging trading interest in oil and gas stocks," it said in a research note.

The research firm added the calibration was also a piece of good news to fixed-income like equity investments such as mortgage real estate investment trusts (MREITs) and high yielding stocks.

On a weekly basis, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 42.59 points better at 1,667.30, as players reacted positively to the recalibrated 2016 Budget.

The FBM Emas Index surged 236.13 points to 11,567.65, the FBMT100 Index improved 249.71 points to 11,279.86, while the FBM Emas Shariah Index jumped 189.45 points to 12,420.82.

On a sectoral basis, the Plantation Index surged 457.40 points to 7,916.20, the Industrial Index advanced 174.19 points to 3,320.61, while the Finance Index gained 252.90 points to 13,882.41.

Due to a shorter trading week with Monday being public holiday, weekly turnover shrank to 7.51 billion units, but with an increased valued of RM9.85 billion from 11.12 billion units worth RM9.65 billion last week.

Main market volume fell to 5.00 billion shares valued at RM9.36 billion compared to 6.59 billion shares worth RM7.03 billion.

Warrant turnover decreased to 1.10 billion units worth RM203.07 million from 2.04 billion units valued at RM385.98.

The ACE market slid to 1.39 billion shares worth RM291.30 million from 2.47 billion shares worth RM513.82 million previously. --BERNAMA