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Bursa Malaysia stays in red as investors take profits in heavyweights

Publish date: Tue, 28 May 2024, 08:25 PM

KUALA LUMPUR: Bursa Malaysia ended the day in red as profit taking activities were seen in selected heavyweights.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 0.15 per cent or 2.45 points, closing at 1,615.82, compared to Monday's close of 1,618.27.

The benchmark index, which began the day 2.38 points higher at 1,620.65, fluctuated between 1,612.96 and 1,622.93 during the session.

The broader market remained negative as decliners outnumbered gainers 824 to 352, with 518 counters remaining unchanged.

Malacca Securities Sdn Bhd said investors might be taking profits in the final week of corporate financial results releases.

"The consumer products and services sector gained 0.12 per cent was the sole positive sector on the back of buying support in Guan Chong Bhd gaining 49.0 sen after its record earnings. 

"Meanwhile, the utilities sector declined by 1.70 per cent was the worst decliner due to selling pressure in Ranhill Utilities declined by 22.0 sen after the merger and acquisition announcement," it said.

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