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.
Indian conglomerates are expected to triple their capital spending to $800 billion in the next decade, according to S&P Global Ratings , with major investments in green hydrogen, clean energy, semiconductors, electric vehicles (EVs) , and aviation . Leading business groups such as Adani Group, Reliance Industries Ltd. , and Tata Group will collectively contribute $350 billion toward these sectors. This investment aligns with India's broader vision to reduce its reliance on fossil fuels and achieve net-zero carbon emissions by 2070 , a transition that will require $12.4 trillion in investments. The shift will also focus on developing new business sectors while other conglomerates, such as Birla, Mahindra, and Hinduja , will continue to focus on expanding their existing businesses, driving an additional $400 billion to $500 billion in investments. S&P notes that Indian conglomerates have an advantage over single-business competitors in capital-intensive sectors . How...