KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Tech Watch: Nifty IT Rebounds, Bulls Take Charge Key Takeaways: Nifty IT Outperformance – Indian tech stocks are delivering their best relative performance to Nifty 50 this year as the price ratio rebounds from a multi-year support level. June Quarter Earnings Tailwind – Analysts expect a solid earnings season ahead for software exporters, with strong seasonal trends and improving fundamentals. Broader Market Boost – FMCG margins are set to rise due to falling agri-inflation, while electricity futures add depth to India's evolving derivatives market. Indian tech stocks are once again grabbing attention, with the Nifty IT Index staging a sharp rebound against the broader Nifty 50. The ratio between the two has bounced off a key 1.4x support level, signaling further upside, according to JM Financial. This resurgence is underpinned by optimism around the upcoming June-quarter earnings. With seasonality working in their favor and cost bases stabilized, software exporters a...