KUALA LUMPUR: The FBM KLCI ended lower on profit-taking in index-linked stocks, leaving the index in the red at midday.

       The benchmark index was down 5.52 points to 1,525.81 at 12.30pm. The index opened 4.44 points higher at 1,535.77 this morning.

       There were 382 stocks advancing against 547 stocks declining while 421 counters unchanged. Trading volume stood at 1.78 billion units worth RM1.18bil.

       Rakuten Trade Sdn Bhd expects the index to remain under selling pressure over the short term.

       “For today, we anticipate the FBM KLCI to trend within the 1,525-1,535 range,” it said in its report.

       TA Securities Research expects key blue chips to sideways with a downward bias as investors increasingly discount the one-off windfall tax as they look forward to recovery upside, but trading momentum should stay muted as market players absorb the substantial stamp duty hikes.

       “Immediate index resistance will be at 1,580, with 1,600, the recent high of 1,613, followed by 1,620 and 1,640, as tougher upside hurdles.

       “Immediate support remains at 1,520, with better supports at 1,500, 1,470, and 1,452, the 50% Fibonacci Retracement (FR) matching the Nov 2020 low, as key support to watch,” it said.

       On Bursa Malaysia, Kuala Lumpur Kepong was the top loser, falling 82 sen to RM20.42. Carlsberg lost 40 sen to RM21.53, Heineken gave up 20 sen to RM22.20 and Hong Leong Capital fell 20 sen to RM7.58.

       The top gainers included MPI, Aeon Credit, BSL Corp and ViTrox.

       Among key heavyweights, Maybank, Tenaga, Telekom Malaysia and Maxis added one sen each to RM8.01, RM9.59, RM5.48 and RM4.59 respectively.

       RHB Bank fell four sen to RM5.36, Public Bank declined one sen to RM4.01, Genting Malaysia shed five sen to RM3.10 and IHH Healthcare lost seven sen to RM6.45.