KUALA LUMPUR: Bursa Malaysia closed mixed at midday, with buying interest in heavyweights keeping the benchmark index in positive territory.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.30 points to 1,638.04 from Friday's close of 1,635.74.
The index began the day 4.08 points up at 1,639.82 and fluctuated between 1,634.72 and 1,643.95 during the morning session.
On the broader market, losers led gainers 481 to 416, while 431 counters wrecked unchanged.
Malacca Securities Research anticipates buying support to emerge in the local market, with the positive close on Wall Street last Friday.
"While the weaker ringgit may dampen sentiment, the downside could be limited as bargain-hunting activities pick up in line with the US stock markets."Meanwhile, we favour the oil and gas (O&G) sector, given the rebound in crude oil prices," it said in a note today. The firm added that the consumer, aviation, construction, building materials and automotive sectors could benefit in a stronger ringgit environment.