KUALA LUMPUR: Bursa Malaysia was able to pare losses but still ended in the red on Tuesday tracking subdued performance of regional indices.
At 5pm, FTSE Bursa Malaysia (FBM) KLCI closed 0.11 per cent or 1.56 points to 1,449.46 from Monday's closing of 1,451.02.
The key index moved between 1,444.58 and 1,451.59 throughout the day.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the benchmark index remains well supported at the 1,445 level.
"Notwithstanding this, we believe the selloff offers an opportunity for investors to accumulate stocks at attractive levels given their cheaper valuations.
"Based on the current market sentiment, we reckon the FBM KLCI will stay in consolidation mode and trend within the range of 1,445-1,465 for the rest of the week until fresh catalysts emerge," he noted.
He added key regional indices closed lower following negative cues from global equities overnight as investors are cautious ahead of the US job market report, which could offer insights into the Fed's stance on interest rates.
Meanwhile, the intensifying Middle East conflict continues to negatively impact investor sentiment, added Thong.
On the index board, FBM100 and FBM Emas both dropped 0.01 per cent to 10,353.06 and 10,682.37 respectively while FBM Ace lost 0.72 per cent to 5,078.81.
Of the actives, Sapura Energy Bhd lost 11.11 per cent or half a sen to four sen and Panda Eco System Bhd dropped 14.58 per cent or 3.5 sen to 20.5 sen.