KUALA LUMPUR, Nov 27 — Bursa Malaysia ended marginally lower after going through volatile trading today driven by local and global economic developments, pushing investors to stay on the sidelines.
At the close of trading, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.52 points lower at 1,607.59 compared with yesterday’s close of 1,612.11.
The index opened 3.09 points higher at 1,615.20 and moved between 1,605.68 and 1,618.68.
On the broader market, gainers and losers were neck and neck at 621 to 604, respectively, while 407 counters were unchanged, 539 untraded and 88 others suspended.
Volume increased to 10.35 billion units worth RM5.47 billion from 8.88 billion units worth RM4.68 billion yesterday.
An analyst said that despite a strong start driven by the passing of Budget 2021 in Parliament yesterday, the equity market slid on concerns that the Employees Provident Fund (EPF) might trim its shareholdings in the local market.
Meanwhile, the global equity market had also taken a hit as investors reassessed valuations following a rapid rise in equities this month and the enduring pandemic in parts of Europe and the US.
“Some parts of Europe including the United Kingdom and Germany have imposed stricter movement control over the holiday period to curb the spread of Covid-19,” she said.
On the oil front, she said the bullish sentiment in oil futures had fizzled out amid rising tensions within OPEC+ members.
Brent crude retreated to US$47.70 (RM194) for the December contract after reaching US$48.53 two days ago.
On the top 30 companies listed on FBM KLCI, Tenaga Nasional shed 28 sen to RM10.72, Sime Darby Plantation eased 16 sen to RM5.05, Maxis declined 10 sen to RM5.02, Hartalega slid 18 sen to RM14.48 and Petronas Gas was down 42 sen at RM16.72.
Among actives, Kanger added half-a-sen to 18.5 sen, AT Systematization was flat at 20 sen, and Bintai Kinden added 10 sen to 79.5 sen.
On the index board, the FBM Emas Index was 25.60 points lower at 11,542.03, the FBMT 100 Index inched down 29.39 points to 11,321.15, the FBM Emas Shariah Index dipped 39.72 points to 13,268.91 and the FBM 70 slipped 28.67 points to 14,740.39.
Meanwhile, the FBM ACE erased 11.81 points to 10,589.49, the Industrial Products and Services Index perked up 1.07 points to 162.48, the Plantation Index shed 114.48 points to 7,235.88, and the Financial Services Index added 57.96 points to 14,263.10.
The Main Market volume increased to 4.66 billion shares worth RM3.84 billion from 4.13 billion shares worth RM3.37 billion yesterday.
Warrants turnover declined to 710.5 million units worth RM127.56 million from 852.85 million units worth RM157.50 million.
Volume on the ACE Market, meanwhile, rose to 4.98 billion shares worth RM1.50 billion from 3.90 billion shares worth RM1.14 billion from yesterday.
Consumer products and services accounted for 579.11 million shares traded on the Main Market, industrial products and services (2.11 billion), construction (441.73 million), technology (366.60 million), SPAC (nil), financial services (75.97 million), property (203.06 million), plantations (519.26 million), REITs (92.30 million), closed/fund (153,000), energy (339.21 billion), healthcare (74.62 million), telecommunications and media (69.61 million), transportation and logistics (216.14 million), and utilities (115.28 million). — Bernama