KUALA LUMPUR, Sept 18 — Share prices on Bursa Malaysia remained lower in rangebound trading at mid-morning in line with most regional markets on mixed external sentiments, dealer said.

At 11.01am, the key benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.97 points lower at 1,679.57, after opening at 1,680.58.

Gainers led decliners by 313 to 264 while 252 counters were unchanged, 996 untraded and 11 others suspended.

Turnover stood at 722.11 million shares worth RM541.23 million.

A dealer said positive sentiment following the US Federal Reserve’s decision to maintain key interest rate at zero was however capped by concerns about the global growth outlook.

“Hence, the market may stay in a rangebound mode with upside potential,” he told Bernama.           

Meanwhile, Hong Leong Investment Bank Research said the FBM KLCI might continue to go higher in the near term, supported by recent measures to stabilise the stock market and safeguard economic growth.

The potential of a further strong upside had reduced as indicators were entering overbought levels, following a 11.8 per cent or 178 points rally since falling to a 3.5 year-low of 1,504 on Aug 24, said the research house.

“Short-term key resistance are at 1,700-1,710 while support falls to 1,624-1,652 zone,” it said.

On the scoreboards, the FBM Emas Index was 6.60 points down to 11,522.17, the FBMT100 Index decreased 7.80 points to 11,248.75, while the FBM Emas Shariah Index added 15.06 points to 12,124.26.

The FBM 70 gained 11.35 points to 12,389.14 while the FBM Ace eased 1.52 points to 5,461.42.

Sector-wise, the Industrial Index went up 12.79 points to 3,209.18, the Plantation Index fell 56.37 points to 7,127.22 and the Finance Index declined 20.85 points to 14,535.52.

For the heavyweights, Public Bank eased two sen to RM18.36, TNB added two sen to RM12.20 and Maybank was flat at RM8.64.

Among actives, Aemulus gained 7.5 sen to 45.5 sen, IFCA MSC edged up two sen to 83.5 sen and APFT was flat at 23 sen.

Petronas Gas led the top gainers, adding 20 sen to RM21.98 and PPB increased 20 sen to RM15.86. — Bernama