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Bursa turns easier on lack of buying momentum

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, April 8 2019 : Shares on Bursa Malaysia opened slightly higher this morning but turned easier thereafter on lack of buying momentum.

At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index retreated 0.08 of a point to 1,641.73 from last Friday’s 1,641.81.

The index opened at 1.86 points higher at 1,643.67.

On the broader market, gainers outnumbered decliners 230 to 109, while 179 counters remained unchanged, 1,328 untraded and 21 others suspended.

Turnover stood at 243.8 million shares worth RM86.3 million.

Malacca Securities Sdn Bhd said profit taking activities were more prevalent last Friday to leave sentiments on the wayside, a trend that looks to persist as there are still few compelling domestic leads to allow the key index to string together a meaningful uptrend.

“Under the prevailing environment, we see the indifferent trend persisting with the key index hovering within the 1,640 and 1,650 levels for now.

“The other support and resistance levels are at the recent low of 1,638 and 1,657, respectively,” it said in a note today.

Of the heavyweights on Bursa, Nestle rose RM1 to RM146.50, KLK added 36 sen to RM25.12, BAT added 28 sen to RM36.28, while PPB went up 24 sen to RM18.74 as at 9.30 am.

Of the actives, Sapura Energy increased 1.5 sen to RM37 sen, Talam was half a sen lower to five sen, KNM went up half a sen to 17 sen.

 The FBM Emas Index gained 29.85 points 11,630.72, the FBMT 100 Index erased 1.01 points to 11,454.14 and the FBM Ace Index shed 3.23 points to 4,823.30.

The FBM Emas Shariah Index gained 13.94 points to 11,807.57, the FBM 70 appreciated 62.10 points to 14,486.64. 

Sector-wise, the Financial Services Index up 4.08 points to 16,892.80, the Industrial Products and  Services Index inched up 0.22 of a point to 169.76 and the Plantation Index was 42.44 points higher at 7,278.99. – Bernama

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Syndicated News

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