KUALA LUMPUR (March 24): Bursa Malaysia was almost flat in the early session on Friday (March 24), amid the lack of catalysts.

At 9.12am, the benchmark FBM KLCI eased by 1.12 points to 1,409.86 from Thursday’s close of 1,410.98, after opening 0.15 of-a-point higher at 1,411.13.  

In the broader market, gainers slightly outpaced decliners 164 to 136, while 242 counters were unchanged, 1,731 untraded and 11 others suspended.

Turnover stood at 252.96 million units worth RM112.36 million.

In a research note on Friday, Malacca Securities Sdn Bhd said the local bourse and regional markets may rise in tandem with Wall Street’s movements overnight, in anticipation that the interest rate hikes may be nearing an end.

Meanwhile, despite the US Treasury Secretary Janet Yellen’s reassurance on the safety of American deposits, investors may continue to monitor the development of the banking sector in the US, as uncertainties remain, it said.

“Investors may favour technology stocks, given the renewed optimism in Wall Street. Besides, the utilities, telecommunication and consumer staples may be under the limelight, as global risks have not abated.

“On the other hand, the plantation sector may see selling pressure amid declining crude palm oil prices,” the brokerage said.

Among heavyweights, CIMB Group Holdings Bhd and IHH Healthcare Bhd added two sen each to RM5.23 and RM5.84 respectively, while Public Bank Bhd and CelcomDigi (Digi.com Bhd) were flat at RM3.95 and RM4.34 respectively, Malayan Banking Bhd (Maybank) fell two sen to RM8.47 and Tenaga Nasional Bhd (TNB) shed six sen to RM9.50.

Among the actives, DS Sigma Holdings Bhd increased six sen to 45 sen, and YBS International Bhd advanced 2.5 sen to 70 sen, while Top Glove Corp Bhd was flat at RM1.02 and Hong Seng Consolidated Bhd declined half-a-sen to 13 sen. 

On the index board, the FBM Emas Index slid by 1.06 points to 10,335.99 and the FBMT 100 Index shed 2.02 points to 10,027.15.

The FBM Emas Shariah Index grew 0.84 of-a-point to 10,671.38, the FBM 70 Index climbed 22.05 points to 13,411.23, and the FBM ACE Index garnered 28.16 points to 5,342.81.     

Sector-wise, the Energy Index added 2.31 points to 813.56 and the Industrial Products and Services Index grew 0.09 of-a-point to 167.26, while the Financial Services Index shrank 9.06 points to 15,557.09, and the Plantation Index went down 12.81 points to 6,756.70.