Business

Bursa opens higher on back of oil rally

US$55 per barrel is highest level in a year

Updated 5 years ago · Published on 03 Feb 2021 9:35AM

Bursa opens higher on back of oil rally
Total volume on Bursa this morning stands at 174.46 million units worth RM89.52 million. – File pic, February 3, 2021

KUALA LUMPUR – Shares on Bursa Malaysia were higher at today’s open, with the energy sector leading the gains following a surge in oil prices to US$55 (RM222.53) per barrel, touching its highest level in a year as the Covid-19 recovery rally continues.

Petronas Chemicals rose 8 sen, or 1.16%, to RM6.99 and Petronas Dagangan jumped 14 sen, or 0.70%, to RM20.10, while Petronas Gas was flat at RM16.20.

At 9.01am, the benchmark FTSE Bursa Malaysia KLCI added 3.92 points to 1,584.41 from 1,580.49 at the close yesterday.

The index opened 3.53 points higher at 1,584.02.

On the broader market, gainers led losers 255 to 100, while 226 counters were unchanged, 1,547 untraded and 11 suspended.

Total volume stood at 174.46 million units worth RM89.52 million. – Bernama, February 3, 2021

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