Bursa Malaysia turns mixed at mid-morning, glove counters on profit taking mode

KUALA LUMPUR, July 22 ― Bursa Malaysia turned mixed at mid-morning after glove maker counters experienced a market pullback due to profit-taking activities after its exponential hike since the emergence of Covid-19 pandemic.

As at 11am, the main index FTSE Bursa Malaysia KLCI (FBM KLCI) was marginally higher at 0.31 of-a-point to 1,596.24 compared with yesterday's close of 1,595.93.

The index opened 1.88 points lower at 1,594.05.

Overall, market breadth slipped marginally to negative with 421 losers against 419 gainers while 394 unchanged, 746 untraded and 19 others suspended.

Total volume shot up to 3.89 billion units worth RM1.78 billion.

Energy counters remained the most active index as oil price leaped to the highest since March 2020, while healthcare index remained the most favourable equity backed by a strong performance of pharmaceutical stocks.

On heavyweights, Petronas Chemicals led the gains by climbing eight sen to RM6.28, followed by CIMB Group with four sen increased to RM3.63.

However, the KLCI index was dragged down by Hartalega, TopGlove and IHH as the stocks faced selling pressure.

On actives, Sapura Energy and Velesto were up by half-a-sen to 10.5 sen and 15.5 sen, while newcomer, the Sarawak based oil and gas company, Ocean Vantage rose 28 sen to 54 sen.

On the index board, the FBM Emas Index edged up 5.64 points to 11,308.39, the FBMT 100 Index declined 1.96 points to 11,148.95 and the FBM Emas Shariah Index was 0.23 points stronger at 13,102.05.

The FBM 70 dipped 18.64 points to 14,153.42 and the FBM ACE was 48.90 points better at 7,671.03.

Sector-wise, the Financial Services Index improved 41.70 points to 13,528.97, the Plantation Index strengthened 35.66 points to 7,010.65 and the Industrial Products and Services Index added 0.97 of-a-point to 140.03. ― Bernama