Malaysian stock exchange's benchmark index, KLCI, today recorded the biggest intraday loss of 13.93 points (0.85%) this week to settle at 1,617.60 points, below the 1,620 threshold.
Within this week, the benchmark index lost 27.69 points in total from the settlement of last Friday at 1,645.99 in a downward trending week.
Market observers reported that KLCI opened positively this morning but lost momentum by midday, erasing its earlier gains and traded below the 1630 psychological threshold.
At 12.30 pm, the index was down 2.37 points, or 0.15%, standing at 1,629.86 after fluctuating within a range of 6.29 points.
Overall market sentiment remained cautious among dealers as the weekend approached.
The stock counters that suffered losses in the early trading sessions included Nestlé Malaysia which dropped RM1.40 to RM101.10, BLD Plantation which fell 76 sen to RM10.74, LPI Capital which lost 22 sen, trading at RM13.34, and Bursa Malaysia which declined by 17 sen to RM9.03.
Public Bank Bhd shed 9 sen to RM4.43 while Maxis Bhd retreated by 5 sen to RM3.75.
On the other hand, gainers included ViTrox which added 14 sen to RM3.59 and Pentamaster which rose 12 sen to RM3.88.
Nationgate and United Plantations both climbed 10 sen to reach RM2.03 and RM26.50, respectively, in earlier trading sessions.
At closing, foodstuff supplier Nestlé Malaysia continued the downward trading to close at RM100.20, after an intraday loss of RM2.30, also the biggest loss on the top decliners' list.
LPI Capital recovered slightly by 3 sen to close 18 sen down at RM13.38 whereas Bursa, the exchange company, recovered by 1 sen and ended at RM8.99, losing 21 sen.
Sector wise, the Utilities Index was the top decliner index, shedding 27.40 points, or 1.63%, to settle at 1,652.13, followed by the Telecommunications & Media Index which lost 8.81 points, or 1.57%, to close at 552.41 points, and the Energy Index which trimmed 12.50 points, or 1.46%, to end the day at 846.53 points.
The sector indices that advanced today were the Construction Index, adding 0.51% to settle at 291.26 points, the Plantation Index up 0.29% to 7,299.58 points, the Property Index added 0.16% to 1,091.81 points, and lastly the Healthcare Index rising slightly by 0.03% to settle at 2,079.28 points.
All other sector indices ended the day in the red zone, with losses within the range of 0.06% to 0.75%.
