Bursa continues downward momentum

Syndicated News
Written by Syndicated News

KUALA LUMPUR, April 18 2019 : Share prices continued their downward momentum on Bursa Malaysia this morning with trading remaining lacklustre.  

At 9.15 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.48 points easier at 1,615.42, after opening 3.23 points weaker at 1,617.67.   

On the broader market, decliners outpaced gainers 200 to 112, while 200 counters remained unchanged, 1,384 untraded and 19 others suspended.

Turnover stood at 264.46 million shares worth RM118.53 million.

In a research note today, Maybank Investment Bank said negative news flow had dampened investor appetite, although the Malaysian equities market could be ripe for bargain hunting in the near-term.

“Technically, we expect the FBM KLCI to range between 1,610 and 1,640 today. Downside supports are at 1,615 and 1,600,” it added. 

Of the heavyweights, Petronas Chemicals added one sen to RM8.93, TNB gained four sen to RM12.10, IHH Healthcare rose two sen to RM5.55, Maybank trimmed 16 sen to RM8.84, Public Bank fell four sen to RM22.56 and CIMB eased three sen to RM5.02. 

Of the actives, Orion IXL increased one sen to 18 sen, Macpie inched up half-a-sen to 17.5 sen, Vivocom and Bumi Armada were flat at two sen and 19 sen respectively, while Sapura Energy declined one sen to 31.5 sen and Netx shed half-a-sen to 1.5 sen.   

The FBM Emas Index depreciated 36.57 points to 11,435.01, the FBMT 100 Index went down 36.89 points to 11,267.52 and the FBM Ace Index fell by 16.61 points to 4,582.48.  

The FBM Emas Shariah Index shaved off 20.17 points to 11,665.65, and the FBM 70 depreciated 41.06 points to 14,265.62. 

Sector-wise, the Plantation Index rose 31.64 points at 7,257.58, the Financial Services Index gave up 111.70 points to 16,575.62, and the Industrial Products and Services Index eased 0.40 of-a-point to 167.36. – Bernama  



About the author

Syndicated News

Syndicated News

News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.