26/03/2014 (The Star) - The key FBM KLCI dipped into the red at midday on Wednesday amid volatile trading, dragged down by mild profit taking on CIMB, IOI Corp and UMW.

At 12.30pm, the FBM KLCI was down 0.44 of a point or 0.02% to 1,836.73. Turnover was 911.95 million shares valued at RM840.42mil, There were 324 gainers, 319 losers and 321 counters unchanged.

Key regional markets were mostly higher as investor sentiment firmed up after US consumer confidence climbed to a six-year high.

However, at Bursa Malaysia, there was a lack of strong buying interest from local funds to provide the leads to retail players. There was also a lack of strong catalysts to attract buying interest as evident by the small gains eked out in the morning trade.

CIMB Group fell four sen to RM7.11 and erased 0.75 of a point from the KLCI.

UMW fell 18 sen to RM10.62 and erased 0.42 from the KLCI. Petronas Gas lost 14 sen to RM23.68.

Among the consumer stocks, BAT fell 78 sen to RM59.40 while Nestle lost 48 sen to RM66.54.

Bintulu Port fell 19 sen to RM7.40 in active trade while Shangri-La was down 19 sen also to RM6.61.

Crude palm oil for third-month futures rose RM4 to RM2,715. However, IOI Corp fell five sen to RM4.76 and wiped out 0.66 of a point. Chin Tek lost 10 sen tot RM9.65 and Ta Ann nine sen to RM4.18.

Hong Leong Bank rose eight sen to RM14.18, Public Bank six sen to RM19.20 and AMMB three sen to RM7.18.

Heavyweights Telekom added three sen to RM6.14 and Tenaga two sen to RM11.96.