FBM KLCI strikes sideways as buyers await international developments

KUALA LUMPUR: The home market remained on a consolidation path on Tuesday after a unfavourable efficiency within the earlier session as buyers monitor contemporary sanctions in opposition to Russia.

Nonetheless, the rally on Wall Avenue in a single day, particularly in know-how counters, helped alleviate issues over rising inflation and recession fears.

Malacca Securities Analysis mentioned it anticipated draw back dangers to be cushioned by steady overseas inflows.

“In the meantime, the EU’s acceptance of Malaysia’s Covid-19 vaccination could bode effectively for the aviation sector transferring ahead,” it added.

At 9.05am, the FBM KLCI was 0.59 level larger at 1,599.51 as buyers opted to remain close to the 1,600 psychological stage.

There have been 259 gainers in comparison with 96 decliners, suggesting a optimistic general market efficiency.

In monetary companies, Public Financial institution dropped three sne to RM4.69, CIMB slid one sen to RM5.28 whereas Maybank was unchanged at RM8.96.

Amongst telcos, Axiata shed 5 sen to RM3.74 whereas Digi fell 4 sen to RM3.93 and Maxis was flat at RM3.95

Petronas Chemical compounds rose three sen to RM9.73, Petronas Fuel gained eight sne to RM16.88 and Press Steel added two sen to RM6.16.

In the meantime, prime actives have been Technax flat at eight sen, BCM Alliance unchanged at 3.5 sen and Pappajack up 1.5 sen to 47.5 sen.


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