Business

Bursa closes lower in lacklustre trade

KUALA LUMPUR, Nov 19 – Bursa Malaysia closed lower today on lack of buying interest from the investors, a dealer said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.97 points to close at 1,623.31, after hovering between 1,620.51 and 1,626.96.

“On the technical side, telco stocks seemed to have added a downward pressure on the local bourse,” one dealer said today.

If the stocks of Telekom Malaysia and Digi manage to get past the level of RM5.60 and RM4.90 respectively, then it would add interest to the stocks and help lift up the market.

“So far, we don’t see interest coming for the telco stocks,” he said.

Another dealer said the market was quiet with investors sidelined and awaiting positive outcome from the US in solving its fiscal cliff issue.

Losers led gainers by 378 to 280, while 335 counters were unchanged, 654 counters untraded and 17 others suspended.

Volume fell to 848.81 million shares worth RM1.112 billion from 895.96 million shares worth RM1.75 billion last Friday.

The Finance Index fell 19.59 points to 14,997.32, the Plantation Index lost 53.70 points to 7,968.8 and the Industrial Index was down 14.76 points to 2,783.92.

The FBM Ace Index decreased 9.97 points to 4,247.68, the FBM Emas Index eased 38.54 points to 11,092.20, FBMT100 weakened 39.34 points to 10,928.11 and the FBM Mid 70 Index fell 40.05 points to 12,234.84. – Bernama

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