At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) lost 10.94 points, or 0.77%, to 1,414.25 from Tuesday’s close of 1,425.19.
The barometer index opened 3.22 points weaker at 1,421.97 and moved between 1,412.75 and 1,422.48 throughout the day.
The market breadth was negative with decliners leading gainers 473 to 349, while 414 counters were unchanged, 1,058 untraded and 25 others suspended.
Turnover was slightly lower at 2.55 billion units valued at RM1.54 billion from 2.56 billion units valued at RM1.54 billion on Tuesday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said adding to the downbeat sentiment, a report yesterday showed that confidence among US consumers fell more sharply in April than expected, going down to its lowest level since last July.
“Meanwhile, investors expect the US Federal Reserve to raise interest rates at least one more time next week before pausing. On the domestic front, we believe today’s selldown offers opportunities to bargain hunt stocks at a lower level.
“However, we advise investors to remain vigilant due to the rising volatility and uncertainty globally,” he told Bernama.
As such, he said Rakuten Trade anticipates the FBM KLCI to trend within the 1,410-1,430 range for the remainder of the week with immediate support at 1,400 and resistance at 1,440.
Among the 30 heavyweight counters, only two stocks advanced, namely, Petronas Dagangan which gained 26 sen to RM22.40, and Telekom Malaysia, which added three sen to RM4.97.
Five heavyweights were flat and the remaining 23 were in the red.
Maybank and Public Bank lost four sen each to RM8.61 and RM3.89, respectively, while Petronas Chemicals fell five sen to RM7.15.
CIMB and Tenaga slipped 11 sen each to RM5.05 and RM8.82 respectively, and CelcomDigi fell one sen to RM4.40.
As for the actives, Star Media rallied 10.5 sen to 61.5 sen, Computer Forms inched up half-a-sen to 27 sen while Fitters Diversified and Vinvest were flat at five sen and 20 sen, respectively.
On the index board, the FBM Emas Index narrowed 71.02 points to 10,392.08, the FBMT 100 Index dropped 71.77 points to 10,077.68 and the FBM Emas Shariah Index decreased 55.76 points to 10,750.77
The FBM ACE Index was 31.02 points better at 5,350.66 and the FBM 70 Index dropped 70.89 points to 13,558.72.
Sector-wise, the industrial products and services index shaved 0.48 of-a-point to 171.48, the financial services index dipped 131.80 points to 15,492.04 and the plantation index went down 44.15 points to 6,884.46.
The Main Market volume rose to 1.73 billion units valued at RM1.43 billion from 1.72 billion units valued at RM1.30 billion on Tuesday.
Warrants turnover fell to 301.54 million units worth RM56.14 million against 330.86 million units worth RM46.15 million previously.
The ACE Market volume inched down to 517.42 million shares worth RM170.95 million versus 517.91 million shares worth RM197.01 million yesterday.
Consumer products and services counters accounted for 215.20 million shares traded on the Main Market, industrial products and services (456.02 million); construction (87.77 million); technology (219.70 million); SPAC (nil), financial services (63.91 million); property (206.91 million); plantation (28.92 million); REITs (59.96 million), closed/fund (nil); energy (82.65 million); healthcare (99.39 million); telecommunications and media (173.79 million); transportation and logistics (23.46 million); and utilities (72.75 million).