FBM KLCI ends morning session lower

FBM KLCI ends morning session lower
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KUALA LUMPUR (July 23): Bursa Malaysia’s key index remained lower at the end of the morning trading session today, weighed down by selling activities in selected heavyweights. 

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.52 points to 1,524.1 from Thursday’s close of 1,527.62.  

The index opened 0.59 of-a-point higher at 1,528.21 and moved between 1,523.7 and 1,529.65 throughout the session. 

On the broader market, gainers outpaced losers 484 to 387, while 421 counters were unchanged, 944 untraded and 31 others suspended.

Turnover stood at 2.99 billion units worth RM1.71 billion

In a research note today, Rakuten Trade reckoned that the gains recorded on Thursday might not be sustainable as yesterday’s buying could be due to some quarterly window-dressing activities.

“As such, we anticipate the index to possibly hover within the 1,520-1,530 range today.

“Meanwhile, keep an eye on crude palm oil and crude oil prices as both of our main exports are beginning to show some strength again,” it said.

Of the heavyweights, IHH Healthcare Bhd added one sen to RM5.81, Public Bank Bhd and Tenaga Nasional Bhd were flat at RM4.02 and RM9.74, respectively, while Malayan Banking Bhd eased one sen to RM8.03, Petronas Chemicals Group Bhd declined three sen to RM8.05 and CIMB Group Holdings Bhd fell six sen to RM4.49.  

Among the actives, Globaltec Formation Bhd jumped 9.5 sen to 77.5 sen, KYM Holdings Bhd surged 21.5 sen to 70 sen, Serba Dinamik Holdings Bhd edged up half-a-sen to 43 sen, Paos Holdings Bhd soared 17 sen to 58 sen, Pasukhas Group Bhd was flat at 10.5 sen and Kanger International Bhd inched down half-a-sen to seven sen. 

LEAP Market debutant DynaFront Holdings Bhd increased two sen to 23 sen, with 711,000 units traded. 

Earlier this morning, the insurance technology specialist made its debut at 23 sen per share, which was two sen or 9.6% higher than its offer price of 21 sen per share.

On the index board, the FBM Emas Index decreased 10.71 points to 11,177.69, the FBMT 100 Index eased 13.05 points to 10,874.71, and the FBM ACE advanced 15.11 points to 7,397.27.   

The FBM Emas Shariah Index was 4.46 points higher at 12,326.45, and the FBM 70 climbed 29.26 points to 14,713.86. 

Sector-wise, the Financial Services Index trimmed 40.99 points to 14,843.52, the Plantation Index bagged 11.3 points to 6,254.77, and the Industrial Products and Services Index gained 0.23 of-a-point to 190.34.