KUALA LUMPUR: Share prices on Bursa Malaysia remained lower at mid-day today on the lack of buying momentum.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.76 of a point to 1,866.87, after moving between 1,860.67 and 1,868.82 throughout the morning session.
Meanwhile, losers overwhelmed gainers 439 to 280 with 303 counters unchanged, 600 untraded and 14 others suspended.
Turnover stood at 1.54 billion shares worth RM873.18 million.
Kenanga Research said the local bourse is likely to trade range-bound at between 1,861 and 1,882 this week, while small cap and third liner stocks may face profit-taking activities after weeks of a strong rally.
"The local market is still in a consolidation mode, although the benchmark index is now in an overbought position," it added in a note today.
The research house said the uninspiring results season which concluded last Friday, may have a negative impact on market sentiment, while the consensus index target may be toned down, given the overall corporate earnings disappointment.
On the scoreboard, the Finance Index appreciated 8.78 points to 17,475.11, while the Industrial Index eased 4.23 points to 3,238.75 and the Plantation Index fell 12.81 points to 8,514.76.
The FBM Emas Index rose 4.71 points to 12,999.82, the FBMT100 Index advanced by 9.24 points at 12,592.19, the FBM Ace fell 18.75 points to 6,884.95 and the FBM 70 appreciated 26.13 points to 14,199.59.
For the heavyweights, Maybank increased four sen to RM10.14, and TNB jumped eight sen to RM12.46, while CIMB, Axiata, Sime Darby and Petronas Chemicals were flat at RM7.38, RM6.93, RM9.46 and RM6.30 respectively.
Among actives, Sumatec added one sen to 47.5 sen, Efficient E-Solutions went up three sen to 28 sen, Pesona Metro surged 13 sen to 94 sen and PDZ Holdings edged up half a sen to 31 sen.
In a statement today, Bursa Malaysia Securities Bhd said Sumatec Resources Bhd was no longer a Practice Note 17 company, on having regularised its financial condition and level of operations.-- Bernama