KUALA LUMPUR: The FBM KLCI ended decrease at midday after failing to maintain gains generated in early commerce.

The benchmark index eased 1.85 factors to 1,499.94 at midday.

There had been 455 shares declining in opposition to 261 shares advancing whereas 412 counters had been unchanged. Trading quantity stood at 1.21 billion models value RM708.52mil.

Rakuten Trade Sdn Bhd didn’t count on the FBM KLCI to see any main actions thus anticipated it to development throughout the 1,495-1,505 vary immediately amid heightened market volatility.

TA Securities mentioned the native market ought to development upwards regularly in the direction of the year-end, with financial restoration performs anticipated to achieve traction as additional constructive information on the effectiveness of vaccines and medicines in opposition to the Omicronvariant improves buyers’ threat urge for food.

“Immediate index resistance remains at 1,520, with 1,550, then 1,580 and 1,600 as tougher upside hurdles ahead.

“Immediate support will be the recent low of 1,483, with key chart supports at 1,470 and 1,452, the 50% Fibonacci Retracement (FR) matching the November 2020 low,” it mentioned.

Among heavyweights, Maybank added one sen to RM8.12, Tenaga gained 15 sen to RM9.26, KLK was 10 sen increased at RM20.90, PPB fell 14 sen to RM17.06 and Petronas Dagangan misplaced 12 sen to RM20.18.

On the broader market, MPI jumped 92 sen to RM49. ViTrox gained 18 sen to RM20.48, Genetec misplaced 60 sen to RM37.94, KESM fell 28 sen to RM12.12 and Rapid shed 26 sen to RM10.40.