KUALA LUMPUR: Bursa Malaysia closed higher on Tuesday, driven by buying activity in consumer, telecommunications and banking stocks.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.33 per cent, gaining 5.43 points to 1,641.97, compared to the previous day's close of 1,636.54.
However, in the broader market, decliners outnumbered gainers, with 558 stocks falling against 509 rising, while 493 remained unchanged.
Trading volume increased to 2.87 billion units valued at RM2.77 billion, up from 2.23 billion units worth RM2.09 billion on Monday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said he remains cautious in the short term despite recent gains, as daily trading volumes remain below average.
"Hence, we expect the benchmark index to maintain its sideways pattern with an upward bias for the time being and we maintain our FBM KLCI weekly target at between 1,630-1,650," he added.