KUALA LUMPUR, Oct 22 ― Bursa Malaysia remained in the red at mid-day today, as the market succumbed to selling pressure after trading sideways in the morning session due to the lack of new leads to entice fresh buying.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.03 points easier at 1,568.90 from yesterday’s close of 1,570.93.
After opening 0.66 of-a-point easier at 1,570.27, the index moved between 1,567.70 and 1,572.09 throughout the morning session.
Market breadth was negative with losers edging gainers 375 to 362, while 344 counters unchanged, 936 untraded and 36 others suspended.
Turnover amounted to 1.30 billion shares worth RM713.81 million.
In a note today, Malacca Securities Sdn Bhd said the key index stocks were finding it difficult to find sufficient impetus to clear out of its present sideways trend.
Nevertheless, it said the broader market and lower liners could continue to see decent following amid the return of retail players who were taking advantage of the calmer market conditions for trading activities.
“However, we also caution that the FBM Small-cap, FBM ACE and Technology indices are already overbought and that they are due for a pullback.
“Hence, we think that the near term upsides could become more measured and choppy, tempered by bouts of profit-taking activities,” it added.
Among heavyweights, Maybank shed three sen to RM8.46, Tenaga fell two sen to RM13.78, while Public Bank added two sen to RM19.30 and Petronas Chemicals was one sen firmer at RM7.41.
IHH was unchanged at RM5.66.
Of the most actively traded stocks, Bumi Armada gained 1.5 sen to 49.5 sen, JCY and Key Asic ticked up one sen each to 20 sen and 7.5 sen, respectively, Ucrest bagged three sen to 17.5 sen while Green Packet warrant was unchanged at 32 sen.
Leading the top losers list, Nestle erased 60 sen to RM143.60 while top gainer, Carlsberg, accumulated 34 sen to RM26.60.
The FBM 70 reduced 39.09 points to 14,080.17, the FBMT 100 Index shed 18.12 points to 11,985.08 while the FBM Ace was 20.60 points better at 4,852.01.
The FBM Emas Index weakened 17.17 points to 11,175.13 and the FBM Emas Shariah Index declined 12.74 points to 11,795.91.
Sector-wise, the Financial Services Index fell 38.60 points to 15,182.59, the Plantation Index slipped 21.72 points to 6,617.75, but the Industrial Products & Services Index was 0.22 point better at 152.86. ― Bernama
