Bursa opens marginally lower

KUALA LUMPUR: Shares on Bursa Malaysia were marginally lower in the early session today on lack of catalysts.

At 9.20am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,723.16, down 1.42 point from Monday’s close of 1,724.58.

The index opened 0.99 of-a-point higher at 1,725.57.

Maybank Investment Bank said given the weaker oil prices, profit-taking activity following the recent rally would likely to continue today, mainly on the lower liners.

“Technically, we expect the FBM KLCI to range between 1,710 and 1,730 today. Downside supports are at 1,705 and 1,681,” it said in a note today.

On the broader market, losers led gainers 188 to 104, while 202 counters were unchanged, 1,387 untraded and 58 others suspended.

Turnover stood at 214.25 million shares worth RM98.39 million.

Among local heavyweights, Maybank gained three sen to RM9.57, Petronas Chemicals jumped 14 sen to RM9.30 while TNB, CIMB and Hong Leong Bank were flat at RM13.50, RM5.84 and RM21.28, respectively.

Public Bank declined four sen to RM24.98, IHH Healthcare eased five sen to RM5.70 and Maxis trimmed three sen to RM5.50.

Of actives, TRC Synergy edged up half-a-sen to 57.5 sen, Dayang Enterprise and Sapura Energy were flat at RM1.02 and RM32 sen, respectively, Econpile shed 6.5 sen to 46.5 sen, Bumi Armada inched down half-a-sen to 19.5 sen and MYE.G slid two sen to RM1.

The FBM Emas Index decreased 15.9 points to 11,985.04, the FBM Emas Shariah Index went down 26.33 points to 11,934.31 and the FBMT 100 fell 11 points to 11,845.42.

The FBM Ace Index increased 5.2 points to 4,692.18 but the FBM 70 decreased 18.15 points to 14,294.41.

Sector-wise, the Financial Services Index was up 1.93 points at 17,844.73, the Plantation Index appreciated by 10.7 points to 7,437.72 and the Industrial Products and Services Index was 0.95 of-a-point higher at 169.99.