KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
The FBM KLCI continued the downtrend this week to close at 1744.57.
In comparison to last Friday (05 Dec 2014), the FBM KLCI was at 1749.30. There is still a slight drop in the market as oil price continue to decline.
Bursa Malaysia's top decliners are still the oil & gas related stocks like Petronas Dagangan Bhd and Petronas Gas Bhd.
It is obvious that the market is taking cue from how the movement of oil price is at the moment. The market is still very volatile and it's difficult to foresee how the movement of the stock will go at the moment, but if the oil price were to continue in this decline, it's pretty obvious that's where the stock market will be heading as well.
Across Bursa, there are 629 decliners with only 178 gainers.
Expect the market to remain volatile in this coming few days
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