Bursa ends lower on Friday, KLCI down 0.29% amid Budget 2022 tabling

BURSA Malaysia ended lower on Friday, with the key index falling 0.29 per cent amid a market consolidation mode due to lack of buying interest as investors digest the announcements in Budget 2022 tabled today.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) trimmed 4.55 points to 1,562.31 from yesterday’s close of 1,566.86.

The market bellwether opened 2.01 points higher at 1,568.87 and moved between 1,559.66 and 1,570.65 throughout the day.

The broader market was slightly positive as gainers led losers by 494 to 485, while 451 counters were unchanged, 850 untraded, and 46 others suspended.

Turnover eased to 3.03 billion units valued at RM2.35 bil from Thursday’s 4.05 billion units valued at RM2.73 bil.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI remained well supported at around the 1,560-1,565 region.

“We believe the recent correction on the local bourse which saw a decline of more than 40 points may attract some bargain hunting activities,” he told Bernama.

Of the heavyweights, IHH Healthcare rose two sen to RM6.54, TNB added one sen to RM9.66, Press Metal jumped 10 sen to RM5.56, Maybank declined six sen to RM8.05, Public Bank and CIMB shed three sen each to RM4.17 and RM5.22, respectively, while Petronas Chemicals shed one sen to RM8.69.

As for the actives, MMAG rose one sen to 10.5 sen, TA Win edged up half-a-sen to 15.5 sen, Dataprep advanced five sen to RM1, Sarawak Consolidated and Kanger were both flat at 23 sen and 4.5 sen respectively, while Benalec inched down half-a-sen to 15 sen, and MY E.G. declined three sen to RM1.04.

On the index board, the FBM Emas Index slid 17.51 points to 11,559.0, the FBMT 100 Index was 21.72 points lower at 11,189.09, the FBM 70 increased 12.54 points to 15,302.37, the FBM ACE bagged 60.74 points to 7,096.17, and the FBM Emas Shariah Index gained 2.11 points to 12,591.59.

Sector-wise, the Financial Services Index went up 97.52 points to 15,589.21, the Industrial Products and Services Index was 1.15 points higher at 206.79, and the Plantation Index fell 74.23 points to 6,788.82.  – Oct 29, 2021

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