Share prices on Bursa Malaysia ended broadly lower yesterday but last minute nibbling in heavyweights and persistent support for newly listed Maxis helped push the barometer to the positive territory.
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) perked 1.55 points to 1,276.65. It had opened 0.11 point lower at 1,274.99.
Maxis, which opened with a premium of 46 sen at RM5.46 over its institutional offer price of RM5, topped both the active and gainers list. It ended 42 sen higher at RM5.42.
"The market struggled to keep afloat as wider market sentiment remained sluggish, especially after Wall Street's dismal overnight performance," a dealer said.
He said although the much awaited listing of Maxis provided a liquidity boost and encouraged more institutional participation in bluechips, the overall profit taking consolidation mood in the broader market stayed.
TA Securities said the immediate resistance for the FBM KLCI will be at 1,288, while 1,305 will be a more significant upside hurdle.
"The immediate downside cushion is at 1,275," it said in its note yesterday.
The FBM Emas Index edged up 0.96 point to 8,522.32, the FBM Top 100 jumped 7.41 points to 8,327.02 but the FBM 70 fell 3.39 points to 8,258.86.
The FBM ACE Index declined 80.98 points to 4,387.6.
The Industrial Index dropped 7.33 points to 2,688.45 yesterday but the Plantation Index added 45.53 points to 6,250.54 and the Finance Index dipped 16.8 points to 11,022.99.
Decliners outnumbered advancers by 457 to 238 while 245 counters were unchanged and 334 untraded.
Overall volume was higher at 1.351 billion shares worth RM2.685 billion compared with Wednesday's 945.197 million shares worth RM1.017 billion.
Other actives Scomi Group-Loan Rights edged down 1 sen to 1.5 sen, Mlabs fell 10.5 sen to 23 sen and Yung Kong perked 1/2 sen to 18.5 sen.
Of the heavyweights, Sime Darby, Maybank and Public Bank were flat at RM9.00, RM6.94 and RM10.98 respectively, while CIMB Group fell 4 sen to RM13.00.
FBM KLCI futures contracts on Bursa Malaysia Derivatives ended broadly lower in line with the cash market's sluggish performance, dealers said.
November 2009 and December 2009 fell 6.5 points each to 1,271.0 and 1,272.5 respectively, March 2010 slipped 4.5 points to 1,277.0 and June 2010 dropped 3.5 points to 1,280.0.
Volume was higher at 4,720 lots compared with Wednesday's 4,563 lots while open interests rose to 17,966 contracts from 17,648.- Bernama
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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