KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Shares of Waaree Energies Ltd. , India’s largest solar panel maker, surged nearly 75% on their first day of trading, following a highly successful $514 million initial public offering (IPO) . This strong debut has revitalized optimism in India's IPO market, especially after Hyundai Motor India Ltd.'s disappointing listing last week. The stock climbed to 2,624.40 rupees from its issue price of 1,503 rupees , with the IPO drawing significant interest, being oversubscribed more than 70 times . Major investors like Goldman Sachs, BlackRock, and Morgan Stanley participated in the offering. The successful debut reflects growing interest in India’s renewable energy sector , which has seen significant investment due to the government's push to expand renewable energy production . Waaree’s strong presence in the solar sector value chain positions it well for future growth, according to analysts like Nitin Mangal from Trudence Capital Advisors. Waaree's performance contrasts...