FBM KLCI >>> 7 Bloody Days
The FBM KLCI fell for a seventh day in a row, led by a slump in prices at Sime Darby Bhd and among banking stocks.
Of the Top 30 components stocks 3 ended green while 21 were in the red.
The other 6 remain unchanged.
Traders remain cautious amid uncertainties in global equity markets.
The FBM KLCI dropped as much as 1.7% in early trade, after shares in Sime Darby tumbled on worries that cost overruns at its energy and utility division will hit the company's bottomline hard in the second half of its fiscal year ending June 30, 2010.
At 5pm, the benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) fell 12.04 points or 0.94 per cent to close at 1,273.69, off its intra-day low of 1,264.11, due to persistent selling in key blue chips led by Sime Darby. It had opened 2.77 points lower at 1,282.96.
Dealers said speculation that Europe's debt crisis would cause another global credit-market crisis, dampened buying sentiment on the local market.
"The outlook is not good. Investors are reluctant to take a heavy position at present," a dealer said.
Trading volume declined to 662.44 mil shares worth RM1286.86 mil as compared to Friday's 886.44 mil shares worth RM1763.63 mil. Lagging Movers were SIME (-27 sen to RM7.81), PUBLIC BANK (-14 sen to RM11.52), IOI (-9 sen to RM4.88), MAYBANK (-7 sen to RM7.25) and CIMB (-4 sen to RM6.82). Leading Movers were AXIATA (+3 sen to RM3.64), TNB (+1 sen to RM8.16) and UMW (+3 sen to RM6.28). Market breadth was negative with 415 losers as compared to 252 gainers.
The FBM Emas Index fell 63.58 points to 8,562.09, the FBM70 Index declined 13.23 points to 8,409.80 and the FBM Ace Index dropped 41.41 points to 3,795.32.
The Finance Index meanwhile, eased 78.03 points to 11,512.85, the Industrial Index declined 35.75 points to 2,576.88 and the Plantation Index dipped 73.12 points to 6,016.61.
The Main Market volume declined to 558.770 million shares worth RM1.264 billion from 737.108 million shares worth RM1.731 million last Friday. The ACE Market volume dropped to 54.074 million shares valued at RM8.410 million from 77.112 million units valued at RM11.290 million previously.
Warrants also fell to 38.253 million shares valued at RM5.542 million against 53.555 million shares worth RM6.440 million last Friday.
REMINDER
The FBM KLCI 200-days Moving Average remains at 1266 points.
The Index had already tested that level with a rebound this morning touching intraday low 1264.11
Above the 200 MA lives the bulls
Below that is BEARLAND
CAVEAT EMPTOR
Buyers Beware!
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