Bursa Malaysia opened lower this morning as market sentiment continued to be overshadowed by concerns over the resurgence of the Covid-19 case as well as weak crude oil prices, dealers said.
At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) benchmark declined 2.67 points to 1,629.25 after opening 0.63 points lower at 1,631.55 this morning.
According to Bernama, the overall market price movement, however, saw gainers outpacing losers by 295 to 165 while 1,256 counters were unchanged, 432 untraded and 38 others suspended.
Turnover was 1.13 billion units worth RM417.16 million.
Rakuten Trade Sdn Bhd Head of Research, Kenny Yee Shen Pin said, the regional market is likely to see mixed performance due to the ongoing small correction.
"In the local market, we think the FBM KLCI will test the 1,620 level today after the benchmark index may reverse its downtrend which saw a loss of 50 points over the past week.
"We would like to advise investors to buy when stock prices are weak as we expect the local bourse to bounce around any time in the near future," he said in a note today.
Among heavyweights, Maybank declined four sen to RM8.36, Top Glove declined one sen to RM6.68 and Hartalega was two sen lower at RM12.58.
Meanwhile, Public Bank, Tenaga, Petronas Chemicals and IHH Healthcare were flat at RM20.46, RM10.58, RM7.41 and RM5.65 respectively.
FGV topped the most active list following an unconditional mandatory takeover offer and it rose nine sen to RM1.27.
The other most active counters, Konsortium and Sapura Energy were flat at 14.5 sen and 12.5 sen respectively while Fintec was down half a sen to 9.5 sen.
On the index board, the FBM Emas Index fell 21.96 points at 11,687.5, the FBMT 100 Index declined 14.74 points to 11,466.96, the FBM Emas Syariah Index declined 14.16 points to 13,167.18, the FBM 70 fell 3.4 points to 14,904.38 and the FBM ACE fell 35.14 points to 10,442.06.
Meanwhile, the Industrial Products and Services Index declined 0.36 points to 172.13, the Financial Services Index declined 60.67 points to 15,088.77 but the Plantation Index rose 15.77 points to 7,297.22.
