FBM KLCI moves sideways as Budget 2026 comes into focus

KUALA LUMPUR: The FBM KLC was range-bound on Monday as investors digested the gains made in the previous week, and proceeded with caution ahead of the tabling of Budget 2026 this week.
TA Securities said conflicting short-term technical signals suggest the index may struggle to gain upward traction, with range-bound movement expected to continue.
It said the near-term upside potential could also be dampened by selling-pressure form profit-taking and resistance at higher levels.
"Market sentiment should also remain muted, as investors await guidance from the Budget 2026 presentation due later in the week.
"Externally, investor sentiment hinges on forthcoming guidance from the US Federal Reserve and macroeconomic data releases, which are expected to provide greater clarity on market direction," it added in its market commentary.
Rakuten Trade noted the pullback on the market in Friday's session as investors took profit from the recent gains.
Howev,er it said the improving daily volumes on the market point towards a healthy trading.
"The return of foreign funds may be the catalyst that we are craving for thus
we anticipate the index will resume its uptrend and trend within the 1,635-1,650 range today," it said in a note.
The FBM KLC started the week 1.08 points higher at 1,636.14., with subdued trading in blue chips.
Leading actives on the market included KNM dropping 2.5 sen to 0.5 sen, NexG gaining 0.5 sen to 52.5 sen and NexG Bina unchanged at 9.5 sen.
There was also active interest in XOX Technology down 0.5 sen to 11 sen, SCIB up one sen to 22 sen and Dataprep up 0.5 sen to 11.5 sen.

Sumber : thestar.com.my