Business

Bursa in red after oil price plunge

TheMole
Written by TheMole

KUALA LUMPUR, March 9 2020 :Bursa Malaysia was down today after the collapse of an oil supply agreement between Organisation of the Petroleum Exporting Countries (Opec) and Russia.

The Opec-Russia disagreement has this morning plunged global benchmark, Brent crude oil by 20.63 per cent to US$35.93 per barrel.

The FTSE Bursa Malaysia KLCI (FBM KLCI) went down by 33.84 points or 2.28 per cent to 1,449.26 in mid-morning. It had opened 23.29 points weaker at 1,459.81.

Losers outnumbered gainers in the broader market by 427 to 41, with 105 counters unchanged, 1,425 untraded and 17 others suspended. 

Turnover amounted to 389.50 million shares worth RM82.94 million.

Petronas-linked stocks, PetChem and PetGas fell by 61 sen and 44 sen each to RM5.04 and RM15.70 respectively.  

Maybank fell 11 sen to RM8.39, Tenaga lost 14 sen to RM12.46, Public Bank dropped 34 sen to RM17.32, IHH reduced 10 sen to RM5.65 and Sapura Energy was down by six sen to 10 sen.

FBM Emas Index slipped 258.84 points to 10,186.13, the FBM Emas Shariah Index gave up 321.48 points to 10,798.87 and the FBM 70 decreased 408.30 points to 12,309.28.

FBMT 100 Index also depreciated 256.36 points to 10,017.87 while the FBM Ace erased 100.75 points to 5,144.42.

Following the downward trend were Industrial Products and Services Index which eased 5.95 points to 129.28, the Financial Services Index dropped 205.39 points to 14,131.16 and the Plantation Index declined 109.99 points to 6,623.05. 

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TheMole

TheMole