Market Commentary12 March 2010Stocks in Bursa Malaysia fell 10.23 points to close at 1311.20 points on follow-through profit-taking activities after the recent run-up. The benchmark FBM KLCI slipped into negative territory soon after opening where it stayed for the remainder of the day, weighed by banking and plantation shares as investors unwind positions ahead of the weekend. The Finance Index lost 0.99% to 11664.37 points, the Properties Index eased 0.58% to 786.40 points and the Plantation Index dipped 1.10% to 6472.04 points. The market traded within a range of 13.10 points between an intra-day high of 1321.89 and a low of 1308.79 during the session. Actively traded stocks include BJCORP-LC, MAS, AIRASIA, IOI, AFFIN-WC, BJCORP, TALAM, MAYBANK, MRCB and KNM. Trading volume declined to 716.26 mil shares worth RM1335.99 mil as compared to Thursday's 792.37 mil shares worth RM1346.62 mil. Lagging Movers were CIMB (-20 sen to RM13.84), MAYBANK (-9 sen to RM7.33), SIME (-9 sen to RM8.61), GENTING (-11 sen to RM6.59) and PUBLIC BANK (-6 sen to RM11.82). Leading Movers were AXIATA (+1 sen to RM3.86), TNB (+1 sen to RM8.00), PPB (+4 sen to RM17.44) and YTL (+2 sen to RM7.50). Market breadth was negative with 436 losers as compared to 247 gainers. |
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Source: JF Apex Securities Bhd |
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