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Bursa in the red at close on selling sentiment

KUALA LUMPUR, Oct 17 ― Bursa Malaysia remained in negative territory at close today, dragged by selling in selected heavyweights including three Petronas-linked companies, a dealer said.

At the close, the key FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.38 points to close at its intraday low of 1,748.99, after moving between 1,748.99 and 1,755.43 throughout the day.  

It opened 0.93 of-a-point lower at 1,753.44 from Monday's close of 1,754.37.

On the broader market, losers outpaced gainers by 469 to 394 with 415 counters unchanged, 566 untraded and 19 others suspended.

Volume decreased to 2.89 billion units worth RM2.28 billion from 3.16 billion units worth RM2.27 billion yesterday.

A dealer said the three Petronas-linked companies, namely Petronas Dagangan, Petronas Gas and Petronas Chemicals lost 72 sen, 18 sen and two sen to RM24.28, RM18.50 and RM7.33, respectively.

The three counters contributed a collective 2.091 points to the loss in the benchmark index. 

“Although the crude oil price is currently higher at US$58.10 per barrel, up by 28 cents, the three companies are in the downstream sector, hence the higher oil price did not have a positive impact on their share prices,” the dealer said.

Regionally, Japan's Nikkei 225 rose 0.38 per cent to 21,336.12, Hong Kong's Hang Seng was up 0.02 per cent to 28,697.49 and South Korea's Kospi added 0.17 per cent to 2,484.37.

Of the other heavyweights, Maybank eased four sen to RM9.42, Sime Darby was down one sen to RM9.07, CIMB lost nine sen to RM6.15 while Tenaga rose two sen to RM14.28.

Among active counters, Palette Multimedia rose 7.5 sen to 44 sen, Hubline added one sen to 17 sen, Key Asic improved 5.5 sen to 32.5 sen while PUC was flat at 16 sen.

The FBM Emas Index lost 40.16 points to 12,554.33, FBM Emas Shariah Index declined 35.42 points to 12,866.81, and the FBM 70 dropped 62.78 points to 15,281.06.

The FBMT 100 Index was down 40.68 points to 12,199.91 but the FBM Ace added 10.29 points to 6,985.94.

Sector-wise, the Plantation Index erased 50.67 points to 7,924.92, Industrial Index eased 11.64 points to 3,217.59 and the Finance Index gave up 85.43 points to 16,395.84.

The Main Market volume increased to 1.53 billion units worth RM2 billion from 1.48 billion units worth RM2 billion.

Volume on the ACE Market decreased to 1.20 billion shares valued at RM265.46 million from 1.51 billion shares valued at RM221.38 million.

Warrants volume was lower at 132.58 million units worth RM13.66 million from 149.06 million units worth RM17.22 million.

Consumer products accounted for 86.53 million shares traded on the Main Market, industrial products (352.86 million), construction (90.87 million), trade and services (536.89 million), technology (218.03 million),  infrastructure (8.03 million), SPAC (3.60 million), finance (84.00 million), hotels (2.52 million), properties (117.90 million), plantations (20.62 million), mining (1,200), REITs (10.74 million), and closed/fund (8,500). ― Bernama

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