Telcos drag Bursa Malaysia to trade lower at mid-morning

Telcos drag Bursa Malaysia to trade lower at mid-morning

KUALA LUMPUR,. Bursa Malaysia weakened further at mid-morning, dragged down by selling in telco counters.

Digi lost five sen to RM5.0, Maxis fell four sen to RM5.64 and Axiata was three sen easier at RM5.16. These three counters contributed 1.70 points to the composite index.

At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,669.95, weakened by 2.42 points from 1,672.37 at Monday’s close.

It opened 0.88 of-a-point easier at 1,671.49 today.

Market breadth was negative, with 310 losers to 282 gainers, while 392 counters remained unchanged, 871 untraded and 19 others suspended.

Turnover stood at 1.24 billion units worth RM613.83 million.

Among other heavyweights, TNB was down eight sen to RM13.80, Sime Darby and CIMB both lost three sen to RM2.27 and RM5.15 and Petronas Chemicals was two sen lower at RM8.34.

Of the losers, KLK slid14 sen to RM24.06, Cycle and Carriage eased 10 sen to RM1.35, Magni fell nine sen to RM5.24 and MSM was five sen lower to RM1.20

The FBM Emas Index declined 6.27 points to 11,861.15 and the FBMT 100 Index eased 7.01 points to 11,683.89.

The FBM Emas Shariah Index was 6.12 points weaker at 12,264.52, while the FBM 70 added 31.16 points to 14,940.0 and the FBM Ace increased 15.91 points to 4,711.55.

Sector-wise, the Financial Services Index eased 10.75 points to 16,624.78 and the Plantation Index shed 0.14 of-a-point to 6,901.28.

The Industrial Products & Services Index fell 0.29 of-a-point to 161.03. — Bernama