Bursa mixed due to mild profit taking

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Written by Syndicated News

KUALA LUMPUR, March 14 2019 :  Bursa Malaysia opened mixed today, with composite index losing 0.57 of-a-point to 1,677.67 on mild profit taking.

At 9.15 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.03 per cent from yesterday’s close of 1,678.24. 

The index opened 2.58 points lower at 1,675.66. 

On the broader market, advancers led loser 209 to 143, while 204 counters remained unchanged, 1,348 untraded and 44 others suspended.

Turnover stood at 526.91 million shares worth RM212.56 million.

Public Bank Investment Bank Bhd said today’s trading is expected to take a cue from the global stock markets which saw US stocks secured their longest winning streak in nearly a month on Wednesday, with healthcare and energy stocks pushing the S&P 500 to its highest mark this year.

“Positive investor sentiment towards equities, partly fuelled yesterday by signs of muted inflation — again saw government bonds shunned, pushing yields higher as well as better performance of the European stocks amid the threat of a disorderly Brexit,” the note elaborated.

Among heavyweights, Maybank, Tenaga and IHH were flat at RM9.55, RM12.70 and RM5.91, respectively, PBBank and HLBank declined two sen each to RM24.46 and RM20.47 respectively, PCHem added 13 sen to RM9.43.

Of actives, energy counters, Destini added seven sen to 32.5 sen, Perdana rose 6.5 sen to 51.5 sen, Sapnrg and its warrant gained half-a-sen to 34.5 sen and 11 sen, respectively while Armada and KNM were flat at 19.5 sen and 11.5 sen, respectively.

The FBM Emas Index eased 0.54 of-a-point to 11,722.30, the FBMT 100 fell 1.83 points to 11,568.67, the FBM Emas Shariah Index went down 5.46 points to 11,702.28.

But the FBM 70 advanced 6.16 points to 14,108.71 and the FBM Ace Index advanced 15.77 points to 4,766.92.

Sector-wise, the Financial Services index was 16.70 points higher at 17,505.23, the Industrial Products and Services Index was 1.02 points better at 171.29 but the Plantation Index was 30.65 points weaker at 7,218.31. – Bernama



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