KUALA LUMPUR: Bursa Malaysia failed to sustain above the 1,500 level today, falling into negative territory mirroring the performance of regional markets.
The FTSE Bursa Malaysia KLCI (FBM KLCI) closed 7.24 points lower at 1,493.87 compared to the previous day's closing at 1,501.11.
The market opened slightly lower at 1,500.39 and traded within a range of 1,492.40 to 1,503.73 during the session.In the broader market, decliners outnumbered gainers significantly with a ratio of 775 to 324, while 406 counters remained unchanged.
Turnover increased to 5.84 billion units valued at RM3.59 billion from Monday's 4.98 billion units worth RM3.13 billion.
Malacca Securities Sdn Bhd noted today that the FBM KLCI closed lower, mirroring the negative trend in regional markets, primarily due to profit-taking in YTL-related counters.
Market breadth was negative as losers more than doubled gainers by 775-to-324 stocks.
"On the broader market, both the Property at 21.5 per cent and Construction sectors at 1.59 per cent fell due to selling pressure in Dr Yu-related counters, namely YNH Property as well as Rapid Synergy, while IJM and WCE Holdings dropped 4.0 sen, respectively," it added.
In the heavyweight category, Maybank decreased by two sen to RM9.06, CIMB gained one sen reaching RM6.01, Tenaga Nasional dropped four sen to RM10.46, Petronas Chemicals declined seven sen to RM6.88, and Public Bank remained unchanged at RM4.36.
Among the actively traded stocks, Minetech decreased by two sen to 15.5 sen, Sarawak Consolidated experienced a significant drop of 35.5 sen to 83.5 sen, Leform lost 22 sen, settling at 27 sen, Malaysian Resources Corp dipped 2.5 sen to 51 sen.