KUALA LUMPUR, March 5 ― The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened lower today as profit taking emerged after yesterday's gains, dealers said.
At 9.15am, the key index stood at 1,819.66, down 11.89 points, after opening 5.88 points weaker at 1,819.66.
Maybank Investment Research has recommended a “take profit” stance for the index.
“The KLCI March Futures moved into a massive 11.54-point discount against the FBM KLCI.
“We expect weak buying at the supports of 1,800 to 1,819, whilst heavy liquidation activities would be at the resistances of 1,825 and 1,845,” it said in a research note today.
On the broader market, losers outpaced gainers 112 to 190, with 160 counters unchanged, 1,299 untraded and 18 others suspended.
Turnover stood at 198.91 million shares worth RM869.45 million.
On other scoreboards, the FBM Emas Index slipped 71.89 points to 12,466.99, the FBMT100 Index fell 73.70 points to 12,154.41 and the FBM Emas Syariah Index declined 59.95 points to 13,041.45.
The FBM 70 lost 58.36 points to 13,407.13, but the FBM Ace appreciated 9.38 points to 6,632.66.
On a sectoral basis, the Finance Index dropped 85.27 points to 16,018.18, the Industrial Index shed 11.13 points to 3,316.85 and the Plantation Index dipped 19.94 points to 7,968.50.
Among heavyweights, Maybank slipped five sen to RM9.23, TNB was eight sen lower at RM14.64, while Public Bank and Axiata eased two sen each to RM18.80 and RM7.11 respectively.
Of the active stocks, Wintoni and Takaso Resources earned one sen each to 26.5 sen and 49.5 sen, respectively, while Hubline and Diversified Gateway eased half-a-sen each to 2.5 sen and 10.5 sen. ― Bernama
