KUALA LUMPUR: Despite early gains, Bursa Malaysia concluded Wednesday on a lower note, with subdued trading for the majority of the session.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 3.64 points to 1,445.82 from Tuesday's close of 1,449.46.
The key index began the day with a 1.45-point increase, opening at 1,450.91, and subsequently fluctuated between 1,444.63 and 1,452.07 for the rest of the day.
On the broader market, decliners outnumbered gainers 452 to 365, while 471 counters were unchanged.
Turnover declined to 2.80 billion units worth RMM1.81 billion from 3.54 billion units worth RM2 billion on Tuesday. Malacca Securities Research said the FBM KLCI ended lower despite the positive rebound in the regional markets, as profit taking activities persisted and investors were still cautious ahead of the Federal Open Market Committee (FOMC) meeting next week.
The firm added that the utilities sector closed higher, up 0.29 per cent, due to buying support in Tenaga Nasional Bhd (2.0 sen) and YTL Corporation Bhd (1.0 sen).
Meanwhile, it said the energy sector ended lower, declining by 0.89 per cent amid selling pressure in Dialog Group Bhd (-1.0 sen) and Velesto Energy Bhd (-1.5 sen).
In terms of most actively traded stocks, Velesto declined by 1.5 sen to 20.5 sen, Widad Group Bhd and Bina Puri Holdings Bhd each saw an increase of half-a-sen, reaching 47 sen and 7.0 sen, respectively.
Meanwhile, Sarawak Consolidated Industries Bhd and Reneuco Bhd experienced gains of 1.5 sen each, closing at 79.5 sen and 23 sen, respectively.