KUALA LUMPUR (March 1): Bursa Malaysia stayed in negative territory at midday on Friday, due to persistent selling of selected heavyweights, especially in the financial services sector. 

CIMB Group Holdings Bhd lost 11 sen to RM6.35 a share, while Public Bank Bhd at RM4.35 and Malayan Banking Bhd (Maybank) at RM9.48 had slid five sen each. These counters dragged the composite index down by a combined 4.55 points. 

 At 12.30pm, the FBM KLCI had eased 10.61 points to 1,540.83, from Thursday's close at 1,551.44.

The benchmark index, which opened 1.72 points firmer at 1,553.16, moved between 1,539.55 and 1,556.22 in the morning trading session. 

The broader market saw losers trumping gainers 634 to 351, while 397 counters were unchanged, 878 untraded, and 29 others suspended.

Turnover amounted to 2.70 billion units worth RM1.61 billion.

In a note on Friday, Malacca Securities Sdn Bhd said given that the US core personal consumption expenditure data came in within expectations, buying support may emerge in the local market.

"Overall, the technology sector’s earnings have seen a recovery, and the downside risk could be limited, while buying interest could pick up going forward.

"We like the packaging segment, as the financial results of both Public Packages Holdings Bhd and Master-Pack Group Bhd were growing, and [we are] likely to see further buying interest within the sector," it said.

Meanwhile, it said the poultry sector could see stronger trading interest, as PWF Corp Bhd released stellar earnings of RM25.6 million for the fourth quarter ended Dec 31, 2023.

As for other heavyweights, CelcomDigi Bhd edged down five sen to RM4.30 a share, and Petronas Gas Bhd shrank 26 sen to RM17.68, but QL Resources Bhd was 17 sen higher at RM5.98, and IOI Corp Bhd gained five sen to RM4.03.  

Of the actives, Harvest Miracle Capital Bhd inched up half a sen to 15 sen, RGB International Bhd perked two sen to 31 sen, and Vsolar Group Bhd gained one sen to to 16.5 sen, while Borneo Oil Bhd at one sen and Velesto Energy Bhd at 28.5 sen were both flat. 

On the index board, the FBMT 100 Index went down 66.25 points to 11,091.95, and the FBM Emas Shariah Index declined 42.94 points to 11,485.05, the FBM Emas Index was 68.37 points lower at 11,423.45, the FBM 70 Index fell 50.25 points to 15,395.90, and the FBM ACE Index slipped 21.07 points to 4,747.06.

Sector-wise, the Financial Services Index dwindled 134.13 points to 17,182.37, the Energy Index was 16.97 points weaker at 907.73, and the Industrial Products and Services Index inched down 0.21 of a point to 176.07, but the Plantation Index gained 23.71 points to 7,218.38.