The Exchange Loses Again Today Due to Sales Pressure

thecekodok

 At 9.05am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 0.55 points at 1,586.61 from Monday's close of 1,587.16.


The index opened 1.63 points weaker at 1,585.53.


It opened weak indicating there was less selling pressure in the local market.


On the broader market, investors saw losers outpacing gainers by 158 to 121, while 205 counters were unchanged, 1,829 untraded and 24 suspended.


Total turnover at 152.12 million units worth RM185.15 million.



Rakuten Trade Sdn Bhd vice -president of equity research, Thong Pak Leng said the KLCI futures rose above forecast so the market expectation would continue to strengthen.


Meanwhile RHB Retail Research said the index failed to reach a new high with the price increase capped at the resistance of 1593.50 points.


Heavyweights saw Malayan Banking Bhd (Maybank) rise 1 sen to RM8.86, Petronas Chemicals Group Bhd added 12 sen to RM9.52 while Public Bank Bhd, IHH Healthcare Bhd and Tenaga Nasional Bhd (TNB) remained at RM4.63, RM6.52 and RM9.25.


Active stocks saw Farm Fresh Bhd making its first appearance adding 40 sen at RM1.75, Nylex (Malaysia) Bhd reaching 6 sen at 52 sen, Hibiscus Petroleum Bhd up 3 sen at RM1.21 while Sapura Energy Bhd and Fitters Diversified Bhd advanced 0.5 cents each at 4 cents and 19 cents.


On the index board, FBM 70 lost 27.93 points at 13,421.45, FBM ACE decreased 21.34 points at 5,392.24, FBM Emas index weakened 6.81 points at 11,280.98, FBM Emas Shariah index decreased 13.76 points at 11,871.25 and FBMT 100 index declined 8.228 points at 10,980.98


In terms of sector, the Products and Services Industry index declined 0.44 points at 202.72, the Plantation index reached 45.51 points at 7,914.37 and the Financial Services index increased 3.34 points at 16,684.93.

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