Bursa opens higher but retreats thereafter on profit-taking

KUALA LUMPUR, Sept 28 — Bursa Malaysia opened marginally higher today but retreated thereafter due to profit-taking in selected heavyweights, dealers said.

At 9.21am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.70 points to 1,530.35, from Monday’s close of 1,533.05.   

It opened 0.46 of-a-point higher at 1,533.51.  

Market breadth was negative with losers outpacing gainers 288 to 211, while 334 counters were unchanged, 1,470 untraded and 24 others suspended.

Turnover stood at 476.70 million units worth RM236.72 million.

In a research note today, Malacca Securities Sdn Bhd said it expected recovery theme sectors to stay in the limelight, moving forward, with investors focusing on aviation, tourism and consumer counters.

“Meanwhile, the 12th Malaysia Plan (12MP) may bode well for telecommunication infrastructure companies, construction as well as technology sectors.

“Trading interest will also be seen in oil and gas counters amidst firmer crude oil price,” it said.

Among the heavyweights, Maybank was flat at RM8.10, Public Bank slipped 4.0 sen to RM4.04, while Petronas Chemicals jumped 11 sen to RM8.13, IHH Healthcare advanced 1.0 sen to RM6.69 and TNB gained 3.0 sen to RM9.88.

Of the actives, Scope Industries and Avillion eased half-a-sen each to 37.5 sen and 13.5 sen, respectively, AT Systematization was flat at 6.0 sen and NWP Holdings added 1.0 sen to 26 sen.

On the index board, the FBM Emas Index declined 15.23 points to 11,259.96, the FBMT 100 Index shed 14.65 points to 10,954.79, the FBM Emas Shariah Index went up 9.44 points to 12,296.08, the FBM 70 was 1.78 points lower at 14,961.12, and the FBM ACE narrowed by 8.90 points to 7,236.76.   

Sector-wise, the Industrial Products and Services Index added 1.06 points to 202.32 and the Plantation Index perked 7.33 points to 6,330.98, while the Financial Services Index slipped 80.80 points to 15,150.69.  — Bernama