KUALA LUMPUR, March 31 — Bursa Malaysia ended lower today amid a pullback in oil prices and window-dressing activities at the end of the 2016 first quarter. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 0.24 of a point to 1,717.58 against its close yesterday of 1,717.82.

The FBM KLCI, which was 0.18 of a point better at 1,718.0, moved between 1,713.22 and 1,719.74 through the day.

“The pullback in oil prices tends to weaken stock prices. On the other hand, a lot of funds are still trying to absorb any selling (activities) as they are trying to hold up the market,” Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew said. Brent crude shed 1.02 per cent to US$39.64 per barrel.

Pong said lack of anxiety over a potential rise in interest rates in the US strengthened the ringgit, causing weaknesses in export-oriented companies’ stock prices. “That has an indirect effect on our stock prices,” he told Bernama.

Market breadth was negative, with decliners outpacing decliners 406 to 397 with 387 counters unchanged, 545 untraded and 48 others suspended. Volume was slightly lower at 1.80 billion shares valued at RM2.54 billion from yesterday’s 1.85 billion shares valued at RM2.34 billion.

Of the heavyweights, Maybank rose 5 sen to RM9.02, Petronas Chemicals added 1 sen to RM6.71, Sime Darby was flat at RM7.95, TNB fell 6 sen to RM13.94, Public Bank trimmed 2 sen to RM18.78 and IHH Healthcare shed 1 sen to RM6.56.

Among active stocks, Parkson Holdings jumped 11.5 sen to RM1.03, Malaysian Bulk Carriers added 5.5 sen to 77.5 sen, while AirAsia, EKA Noodles and AirAsia X were flat at RM1.83, 13 sen and 29 sen respectively.

The announcement on the dissolution of the Sarawak State Assembly by Chief Minister Tan Sri Adenan Satem on April 11 to pave the way for the state election was met with mixed performance by Sarawak-based companies.

Dayang Enterprise gained 3 sen to RM1.26, Naim Holdings expanded 6 sen to RM2.52, Sarawak Plantation was flat at RM1.97, Ta Ann Holdings fell 2 sen to RM5.05, while Cahya Mata Sarawak declined 5 sen to RM4.75.

The FBM Emas Index gained 0.45 of a point to 11,920.78, the FBMT100 Index edged down 0.41 of a point to 11,618.94 and the FBM Emas Shariah Index depreciated 18.20 points to 12,498.31. The FBM 70 added 3.91 points to 13,227.78 and the FBM Ace slipped 11.73 points to 5,636.98.

Sector-wise, the Finance Index increased 30.11 points to 14,766.19, the Industrial Index shed 7.90 points at 3,276.90 and the Plantation Index declined 62.60 points to 7,868.59.

Main Market turnover slipped to 1.19 billion units worth RM2.46 billion from yesterday’s 1.37 billion units worth RM2.26 billion.

Turnover on the ACE Market depreciated to 192.56 million shares valued at RM33.31 million from 255.15 million shares valued at RM49.47 million yesterday.

Warrants were higher at 418.79 million units worth RM44.35 million from 222.15 million units worth RM30.68 million.

Consumer products accounted for 84.14 million shares traded on the Main Market, industrial products (221.43 million), construction (132.99 million), trade and services (474.35 million), technology (16.08 million), infrastructure (13.44 million), SPAC (74.28 million), finance (63.799 million), hotels

(533,600), properties (50.42 million), plantations (41.26 million), mining (4,000), REITs (16.96 million) and closed/fund (11,000). — Bernama