KUALA LUMPUR: Shares on Bursa Malaysia ended lower today with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) 20.12 points easier, weighed down by losses in heavyweights. At 5 pm, the FBM KLCI stood at 1,767.38 points, after hovering between 1,764.63 and 1,787.64 throughout the day. Market breadth was negative with losers outpacing gainers by 808 to 129, while 224 counters were unchanged, 667 untraded and 15 others suspended. Total volume slipped to 1.85 billion units worth RM1.9 billion from 1.59 billion units worth RM1.94 billion recorded last Friday.
HLIB Research said the FBM KLCI is expected to be bearish in the near term on unfavourable domestic conditions such as a potential earnings disappointment in the May reporting season.
“Weekly supports are situated near 1,750-1,770 points while resistance zones are pegged at 1,800-1,813,” the research house said in a note.
Of the heavyweights, Maybank fell 9.0 sen to RM9.17, Tenaga erased 46 sen to RM13.24, Public Bank declined 18 sen to RM18.96 and Axiata was 3.0 sen lower at RM6.49.
Among actives, Frontken eased one sen to 29 sen, IFCA MSC declined 24 sen to RM1.38 and AirAsia X gained two sen to 29 sen.
Meanwhile, Bursa Malaysia issued an Unusual Market Activity query to IFCA MSC over the sharp drop in the company’s share price recently.
– Bernama