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Bursa lower due to mild selling

bursa higher

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Dec 4 2018 : Bursa Malaysia was easier at today’s opening due to  mild selling in local stocks following the gains booked at Monday closing.

At 9.12 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 3.67 points to 1,696.05  from yesterday’s close of 1,699.72.

The index opened 2.91 points lower at 1,696.81. 

On the broader market, gainers beat off losers 154 to 111, with 171 counters unchanged, 1,432  untraded and 21 others suspended.

Volume stood at 380.41 million units valued at RM96.25 million.

A dealer said after the Group of 20 (G20) Summit, investors would now be focusing on the Organisation of the Petroleum Exporting Countries meeting, scheduled for the end of this week, with members expected to cut production.

“This is seen as a positive move, reflected in the oil price yesterday, which rose by five per cent,” the dealer said.

The oil price today stood at US$61.87 per barrel, up by 0.29 per cent.

Among heavyweights on Bursa Malaysia , Maybank fell one sen to RM9.42, Public Bank lost eight sen to RM24.80, Tenaga dropped 10 sen to RM14.20, while Petronas Chemicals rose two sen to RM9.19.

Of actives, London Biscuits was up by two sen to 62.5 sen, Ucrest shed half-a-sen to 30 sen, while Bumi Armada and Talam Transform were flat each at four sen and three sen respectively.

The FBM Emas Shariah Index bagged 0.80 of-a-point to 11,788.29, the FBM 70 improved 26.63 points at 13,676.64 and FBM Ace Index was 3.55 points better at 4,870.61.

The FBM Emas Index fell 12.10 points to 11,724.16 and the FBMT 100 Index dropped 13.96 points to 11,591.55.

Sector-wise, the Plantation Index inched up 9.27 points to 6,957.03,  but the Industrial Products and Services Index was 0.19 of-a-point weaker at 170.57, and the Financial Services Index dropped 5.92 points to 17,480.26. – Bernama

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