Bursa market could consolidate sideways on profit-taking that was 152 gainers against 69 losers, while 134 counters unchanged, 1,557 untraded and 26 others suspended.

Malaysia: Bursa Malaysia opened higher this morning supported by buying in key heavyweight counters.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved 6.60 points to 1,885.92 from Wednesday’s closing of 1,879.32.

The index opened 9.50 points better at 1,888.83.

On the broader market, there were 152 gainers against 69 losers, while 134 counters were unchanged, 1,557 untraded and 26 others suspended.

Volume stood at 162.63 million units valued at RM66.12 million.

Maybank Investment Bank Research said yesterday’s late buying support on selected blue chips helped to narrow losses, however, negative sentiment remained in the broader market.

“For today, the market could consolidate sideways in the near term as profit-taking accelerates near the 1,880 level, which is our end-2018 KLCI target.

“Technically, we expect the FBM KLCI to trade between 1,870 and 1,900 today,” it said in a note.

Among heavyweights, Maybank gained two sen to RM10.62, PBBank bagged four sen to RM24.04, PChem added 12 sen to RM8.57, while Tenaga and CIMB were both unchanged at RM15.92 and RM7.30, respectively.

Among the advancers, Allianz and KLK both rose 36 sen to RM11.00 and RM25.86, respectively, PetDag added 24 sen to RM27.10, PetGas improved 18 sen to RM18.70 while F&N and PPB both increased 16 sen to RM33.16 and RM18.62, respectively.

For actives, SapNRG was up two sen to 75 sen, Sumatec, Perisai and MMAG inched up half-a-sen each to seven sen, five sen and 25.5 sen, respectively, while Nexgram shed half-a-sen to six sen.

The FBMT 100 Index added 38.91 points to 12,979.33, the FBM Emas Shariah Index gained 50.77 points to 13,337.84, the FBM 70 rose 24.56 points to 15,675.57 and the FBM Ace put on 18.58 points to 5,530.96.

The FBM Emas Index was 38.93 points better at 13,176.13,

Sector-wise, the Finance Index increased 8.17 points to 18,379.77, the Industrial Index bagged 21.64 points to 3,259.62 and the Plantation Index added 22.91 points to 8,069.62.

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