KLCI down over 50 points amid lower crude oil prices

KUALA LUMPUR (March 9): The tumbling oil prices continued to dampen shares on Bursa Malaysia at mid-afternoon, dragging the industrial products and services, transportation and logistics, and energy sectors into the red.

Petronas Chemicals, MISC and Dialog lost RM1.06, 57 sen and 29 sen each to RM4.59, RM6.83 and RM3.00, respectively, contributing a combined 22.67 points to the loss in the composite index.

At 3.06pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 50.36 points to 1,432.74 from Friday’s close of 1,483.10.

At the opening bell, the benchmark index opened 23.29 points lower at 1,459.81.

On the broader market, losers outpaced gainers 1,129 to 79, with 104 counters unchanged, 686 untraded and 17 others suspended.

Turnover amounted to 4.50 billion shares worth RM2.20 billion.

Among the heavyweights, Maybank reduced 24 sen to RM8.26, Tenaga shed 22 sen to RM12.38, Public Bank fell 46 sen to RM17.20 and IHH was 14 sen weaker at RM5.61.

Of the actives, Sapura Energy dipped five sen to 11 sen, Velesto Energy dropped 15 sen to 15 sen and Bumi Armada slipped 11 sen to 17 sen.

On the index board, the FBM Emas Index contracted 435.14 points to 10,009.82, the FBM Emas Shariah Index slid 510.48 points to 10,609.86 and the FBM 70 dropped 729.04 points to 11,988.54.

The FBMT 100 Index was 404.08 points lower at 9,970.15 and the FBM Ace declined 458.47 points to 4,786.70.

Sector-wise, the Industrial Products and Services Index eased 12.38 points to 122.85, the Financial Services Index tumbled 423.64 points to 13,912.91 and the Plantation Index slipped 337.52 points to 6,395.52.