KUALA LUMPUR, April 19 — Bursa Malaysia remained below the 1,600-point level at lunch break amid broad selling pressure due to mounting concerns over surging Covid-19 cases globally.
Only the transportation & logistics, telecommunications & media and technology indices were in positive territory.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 8.43 points to 1,599.95 compared to Friday’s close of 1,608.38.
The barometre index opened 0.27 of-a-point weaker at 1,608.11 and fluctuated between 1,608.62 and 1,596.05 throughout the session.
The overall market breadth was negative with losers outpacing gainers 696 to 338, while 377 counters were unchanged, 748 untraded and seven others suspended.
Total volume stood at 4.34 billion shares worth RM2.42 million.
Rakuten Trade said the market is trading within a tight range in the absence of any buying catalysts.
“Though we noticed some nibblings by the foreign funds, we doubt it is sustainable. Therefore, we expect the index to hover within the 1,602-1,612 range today,” it said in a note.
An analyst said market players turned its focus back on mounting Covid-19 cases, which may lead to restrictions and derail economic activities.
Worries over the pandemic has also affected oil market. The crude Brent is hovering in the red at around US$66 per barrel level.
Among the heavyweights, Press Metal dropped eight sen to RM5.32 on the ex-date of the company’s one-for-one bonus share issue, while Top Glove trimmed 11 sen to RM5.46, CIMB was four sen easier at RM4.25, and TNB lost six sen to RM10.02.
In contrast, Supermax was 16 sen higher at RM5.47 and Sime Darby Plantation rose two sen to RM4.50.
Active counters, Minda Global expanded two sen to 17.5 sen, while Focus Dynamics was 1.5 sen lower at 13.5 sen and Ucrest went up six sen to 41 sen.
On the index board, the FBM Emas Index was 55.31 points weaker at 11,795.47, the FBM Emas Shariah erased 51.50 points to 13,223.94 and the FBMT 100 decreased 50.43 points to 11,453.14.
The FBM 70 slid 30.57 points to 15,638.60 and the FBM ACE reduced 1.85 points to 8,595.50.
Sector-wise, the Plantation Index edged down 20.70 points to 6,859.35, the Financial Services Index slipped 53.15 points to 15,022.01, and the Industrial Products and Services Index was lower by 0.98 of-a-point to 195.85. — Bernama
