KUALA LUMPUR (July 4): Consumer products and services stocks dominated Bursa Malaysia’s list of top losers after the noon break on Tuesday (July 4).

Topping the list was Fraser & Neave Holdings Bhd (F&N), whose shares were down 1.55% or 40 sen to RM25.40. Dutch Lady Milk Industries Bhd ranked third on the list, down 1.17% or 26 sen to RM22.04, followed by Heineken Malaysia Bhd which fell 20 sen or 0.76% to RM26.28.

Three other consumer stocks on the list were Petronas Dagangan Bhd (down 0.63% to RM22.24), Farm Fresh Bhd (down 10.92% to RM1.06) and DKSH Holdings (M) Bhd (down 2.25% to RM4.78).

However, several consumer counters made the gainer's list with Nestle (M) Bhd ranked third, rising 20 sen or 0.15% to RM132, followed by Panasonic Manufacturing Malaysia Bhd — fifth on the list — whose shares gained 18 sen or 0.9% to RM20.18.

Carpet maker Paragon Union Bhd was also among top gainers after rising 10 sen or 3.5% to RM2.96.

At the time of writing, the consumer products and services index lost 2.32 points or 0.42% to 549.45.

MIDF Research, in a recent note, says that it remains positive about the outlook for the consumer sector for the following reasons: a defensive play with resilient demand for staple-related products; solid domestic consumption ahead; solid profit margins for food and beverage producers, driven by falling raw material prices and previous price hikes, offsetting other cost pressures; and normalised commodity prices for livestock feed, which alleviates elevated input costs for poultry players.