This is the Stock Market Situation at the Beginning of the Week - - Financial Market Media No. 1 in the World This is the Stock Market Situation at the Beginning of the Week This is the Stock Market Situation at the Beginning of the Week

May 3, 2021

This is the Stock Market Situation at the Beginning of the Week

 Overall profit-taking activity involving heavyweights following the recent rise, saw trading on Bursa Malaysia decline when it opened this morning.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index fell 1.5 points to 1,600.15 from last Friday's close of 1,601.65.

Bernama reported that the key index opened 0.44 points higher at 1,602.09 before declining after one minute of trading.

The overall market price movement was negative with losers outpacing gainers 293 to 213 while 324 counters were unchanged, 1,323 untraded and five others suspended.

Turnover was 392.64 million shares worth RM251.26 million.

According to Malacca Securities Sdn Bhd, investors may take a cautious stance as the daily confirmed cases of Covid-19 continue to rise.

At the same time, they are also monitoring the Markit Malaysia Purchasing Managers Index data which will be released today as well as the interest rate decision by Bank Negara Malaysia (BNM) on Thursday.

“With Covid-19 infections on the rise, investors will pay close attention to consumer, packaging and healthcare-related stocks.

"Besides that, trade interest can be seen in the technology sector following the recent decline ahead of the company's quarterly results," he said.

The research firm also expects the rise in metal -related prices to provide buying momentum for industrial product companies in the near term.

Among heavyweights, Maybank and Maxis rose one sen each to RM8.24 and RM4.61, Petronas Chemicals rose six sen to RM8.26 and Top Glove added three sen to RM5.68.

Public Bank declined one sen to RM4.14, CIMB Group declined four sen to RM4.10 and Genting declined 16 sen to RM4.82.

For active stocks, Priceworth was half -a -sen lower at two sen, Careplus rose 13 sen to RM3.04 and LKL added 2.5 sen to 36.5 sen.

On the index board, the FBM Emas Index fell 13.19 points to 11,785.10, the FBM Emas Syariah Index rose 8.84 points to 13,281.34, the FBMT 100 Index declined 13.53 points to 11,436.63, the FBM 70 was lower 29.23 points to 15,454.91 and the FBM ACE contracted 13.82 points to 8,832.20.

By sector, the Industrial Products and Services Index rose 0.10 points to 199.46, the Plantation Index rose 6.78 points to 6,906.47 and the Financial Services Index declined 10.01 points to 14,860.24.