KUALA LUMPUR (Feb 3): Bursa Malaysia’s main index retreated in early trade on Friday (March 3), as investors took profit in heavyweights after Thursday’s gains.

At 9.19am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.38 points to 1,454.11, from Thursday’s 1,455.49.

The index opened 2.29 points higher at 1,457.78.

However, market breadth was positive with advancers outpacing decliners 236 to 134, while 269 counters were unchanged, 1,581 untraded and 12 others suspended.

Turnover stood at 294.38 million units worth RM145.16 million.

Malacca Securities Sdn Bhd said given that Wall Street accelerated into the green territory overnight as one of the Federal Reserve official’s remarks was more dovish on interest rate direction, it believes that the relief rally could spill over to the local bourse.

“Nevertheless, we believe the market upside may be limited until the conclusion of the Federal Open Market Committee meeting this month,” it said in a note.

Commodities-wise, Brent crude oil traded above US$84, while the crude palm oil price hovered above RM4,290, with related sectors likely to remain in focus in addition to banking, consumer, utilities and telecommunication.

Among the heavyweight counters, Petronas Chemicals Group Bhd (PetChem) and Tenaga Nasional Bhd (TNB) went down 6.0 sen to RM7.21 and RM9.34, while Axiata Group Bhd, Maxis Bhd and IHH Healthcare Bhd lost 4.0 each to RM3.17, RM3.94 and RM5.85 respectively.

CelcomDigi (Digi.com Bhd) rose 5.0 sen to RM4.35 and Public Bank Bhd added 1.0 sen to RM4.15.

Among the active stocks, just resumed counter Boustead Holdings Bhd climbed 20 sen to 85.5 sen and electric vehicle-related company, Hong Seng Consolidated Bhd rose half sen to 14 sen, while Eden Inc Bhd bagged 1.5 sen to 18 sen.

On the index board, the FBM Emas Index ticked up 3.11 points to 10,586.09, the FBM 70 Index garnered 27.68 points to 13,430.11, while the FBM ACE Index grew 17.37 points to 5,396.47.

Meanwhile, the FBMT 100 Index eased 2.51 points to 10,269.85 and the FBM Emas Shariah Index dropped 12.92 points to 10,799.56.

Sector-wise, the Financial Services Index recovered 26.24 points to 16,172.91, the Plantation Index advanced 3.22 points to 6,813.36, the Energy Index earned 7.12 points to 865.08, and the Industrial Products and Services Index inched up 0.14 of-a-point to 177.17.