KUALA LUMPUR: Bursa Malaysia closed a mix on Thursday as buying activities on banking, telco and commodity related stocks lifted the key index.
At 5pm, FTSE Bursa Malaysia (FBM) KLCI rose 0.18 per cent or 2.99 points to 1,636.54 versus Friday's close of 1,633.55.
The benchmark index moved within the 1,632.37 and 1,642.56 range today. The broader market however saw decliners led gainers 652 to 336 while 504 counters were unchanged.
FBM100 rose 0.09 per cent to 11,989.72 and FBM Emas was up 0.06 per cent to 12,289.95.
FBM Ace tumbled 1.16 per cent to 5,089.11.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the benchmark index remains in consolidation mode as it is hovering slightly above the key support level of 1,630.
He noted a breakout above the key resistance of 1,650 could signal a more sustained uptrend.
"Additionally, the long term outlook of Malaysian equities remains optimistic, supported by the country's improving economic conditions, combined with massive foreign direct investments, particularly in the tech, data centre and their supporting sectors, are expected to support broader market recovery."
"We anticipate the benchmark index to trend within the range of 1,630-1,650 for the week, representing the immediate support and resistance levels," he said.