KUALA LUMPUR: Bursa Malaysia opened lower today, retreating from yesterday’s gains taking the cue from the lower overnight Wall Street.
At 9.08 am, the FBM KLCI stood at 1,715, fell 0.67 of-a-point, from Thursday’s close of 1,715.67.
The index opened 1.14 points lower at 1,714.53.
Market breadth was positive with gainers leading losers at 142 to 123 while 195 counters remained unchanged, 1,236 untraded and 14 others were suspended.
Turnover stood at 171.48 million shares worth RM76.63 million.
TA Securities said yesterday’s strong gains appeared overdone and would likely encourage profit-taking and spark a pullback ahead of the weekend.
“Nevertheless, a successful break above the recent ten-month high of 1,719 will meet key resistance of 1,729, with next upside hurdle at 1,744 while support will be at 1,704 and 1,691,” it said in a note.
Of the heavyweights, Maybank added one sen to RM8.76, Sime Darby improved four sen to RM9.16 and Petronas Chemicals increased nine sen to RM7.47.
Public Bank and TNB shed four sen each at RM19.94 and RM13.54 rerspectively.
Among actives, Dagang Nexchange warrant gained half-a-sen to 21.5 sen, Iskandar Waterfront rose 14 sen to RM1.51, Dagang Nexchange eased half-a-sen to 43.5 sen and Tiger Synergy warrant and Borneo Oil were flat at two sen and 17.5 sen respectively.
The FBM Emas Index was 7.22 points lower at 12,100.56, FBM Emas Shariah Index shed 8.68 points to 12,533.16, FBMT100 Index slipped 10.64 points to 11,778.67 and the FBM 70 dropped 35.75 points to 14,067.08.
The FBM Ace increased 24.52 points to 5,286.06.
On a sectoral basis, the Finance Index rose 13.72 points to 15,325.79, Industrial Index edged up 3.10 points to 3,259.19 and the plantation Index gained 7.51 points to 8,146.44. – BERNAMA