KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Rubrik, a leading data security company, saw its stock soar Friday following a narrower-than-expected third-quarter loss, robust revenue growth, and upgraded fiscal-year guidance. Key Highlights: Earnings Beat: Rubrik posted an adjusted Q3 loss of 21 cents per share, better than the expected 40 cents per share loss. Revenue Growth: Quarterly revenue climbed 43% year-over-year to $236.2 million, surpassing analysts' estimates of $217.5 million. Subscription Revenue: Subscription revenue rose 55% to $221.5 million. Upgraded Guidance: The company raised its fiscal-year revenue outlook to a range of $860 million to $862 million, up from $830 million to $838 million. Market Reaction: Rubrik's stock was up 28% by midday Friday, continuing its strong post-IPO performance. The stock has now gained 105% since its April IPO price of $32. Analyst Sentiment: Guggenheim: Analysts highlighted Rubrik's "uncommon business momentum" and raised their price target from $52 to $...