At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) barely moved, falling less than a point to 1,431.05 from yesterday’s close of 1,431.10.

The key index, which opened 3.4 points firmer at 1,434.50, fluctuated between 1,427.78 and 1,441.47 throughout the day.

On the broader market, decliners beat gainers 500 to 348, while 410 counters were unchanged, 1,008 untraded, and nine others suspended.

Total turnover shrank to 2.34 billion units worth RM1.56 billion from 2.72 billion units worth RM1.9 billion yesterday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local market was dragged down mainly by selling of energy, industrial products and real estate investment trust (REIT) stocks.

Regional peers closed mostly higher thanks to bargain-hunting activities after the sell-off yesterday.

“Back home, we believe the market undertone will remain cautious amid increasing volatility although bargain-hunting activities may prevail,” Thong told Bernama.

As such, he expects the benchmark index to hover at the 1,425-1,445 range tomorrow, with immediate support at 1,415 and resistance at 1,490.

Bursa Malaysia heavyweights Maybank shed four sen to RM8.56, Petronas Chemicals dipped 15 sen to RM9.15, IHH Healthcare eased two sen to RM6.36, while Public Bank and CIMB were both unchanged at RM4.40 and RM4.90, respectively.

Of the active counters, YX Precious declined one sen to 27 sen, Hibiscus Petroleum shed 5.5 sen to 93.5 sen, Dagang NeXchange eased 1.5 sen to 75.5 sen, Yong Tai was flat at nine sen, and Widad Group added one sen to 37 sen.