What's the Story of the Stock Exchange Today? - Kakiforex.com - Financial Market Media No. 1 in the World What's the Story of the Stock Exchange Today? What's the Story of the Stock Exchange Today?

April 28, 2021

What's the Story of the Stock Exchange Today?

 Bursa Malaysia continued yesterday's decline to open lower today, supported by continued profit-taking activity in selected heavyweights and healthcare counters, amid cautious sentiment in regional markets.

At 9.29am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.23 points to 1,599.45 from 1,606.68 at the close on Tuesday.

According to Bernama, the market barometer index opened 0.16 points lower at 1,606.52.

The overall market sentiment was negative with losers outpacing gainers by 359 to 270, while 369 counters were unchanged, 1,194 untraded and 54 others suspended.

Malacca Securities, through its research note, said the FBM KLCI experienced a decline which was partly dragged down by profit-taking activity in glove heavyweights following the recent rebound.

“We expect investors to continue to be concerned and focus on high-income sectors with interstate travel bans still in effect, while stricter Covid-19 crackdowns have been implemented in most countries.

"According to commodities, the price of crude oil (CPO) saw a spike following the increase in soybean oil, while the price of Brent crude oil experienced a slight spike. Meanwhile, a 10 -year oil and gas (O&G) services blueprint has been launched to drive exports and research and development (R&D), ”he said.

The research firm added that investors may focus on the technology and semiconductor sectors in the future following the extraordinary results released yesterday.

"Besides that, investors may put plantation counters on the radar following the spike in CPO prices. Some trading interest may be seen at O&G counters following the launch of the 10 -year O&G services blueprint, ”he explained.

Among heavyweights, Maybank was flat at RM8.26, Public Bank declined 1.0 sen to RM4.16, Petronas Chemicals fell 3.0 sen to RM7.82, TNB was 4.0 sen lower at RM9.94, and Top Glove fell 14 sen to RM5.62.

Among active stocks, Vortex Consolidated rose 1.0 sen to 16 sen, Sapura Energy rose half -a -sen to 13.5 sen, Nova MSC added 2.0 sen to 16.5 sen, while Focus Dynamics was flat at 13 sen.

Meanwhile, in separate filings to Bursa Malaysia, Ancom Bhd and Nylex (Malaysia) Bhd asked for trading to be suspended at 9am today pending important announcements.

On the index board, the FBM Emas Shariah Index fell 44.46 points to 11,803.52, FBMT 100 fell 45.87 points to 11,454.25, FBM 70 declined 39.84 points to 15,658.17, FBM Emas Shariah fell 72.94 points to 13,269.48, and FBM ACE fell 9.18 points to 8,897.30.

By sector, the Plantation Index gained 0.65 points to 6,853.19, the Financial Services Index decreased 3.39 points to 14,948.45 and the Industrial Products and Services Index fell 0.58 points to 196.23.