KUALA LUMPUR, Jan 28 — Bursa Malaysia snapped its five-day winning streak to close lower today, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from yesterday’s close of 1,771.25.

The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session.

Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended.

Turnover improved to 3.65 billion units worth RM4.41 billion from yesterday’s 3.58 billion units worth RM4.46 billion.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said given the magnitude and pace of the recent advance, some degree of profit realisation is both expected and healthy.

“Importantly, this correction appears temporary rather than structural.

“Trading activity was also notably active, with total volume exceeding 3.0 billion shares, underscoring continued market participation rather than a broad-based risk-off move,” he told Bernama.

Additionally, investors appeared inclined to lock in gains to mitigate the risk of any unexpected policy signals ahead of the US Federal Reserve’s policy decision later today.

Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng viewed today’s profit-taking as a healthy development, allowing the market to absorb recent gains and prepare for the next leg higher.

“Market sentiment remains resilient, with investors continuing to hold positions near recent highs, pointing to consolidation rather than a reversal.

“As long as the index holds above the 1,740-1,750 support zone and foreign participation remains supportive, the broader upward trend is expected to stay intact,” he said.

Among the heavyweights, Maybank added four sen to RM11.80 and IHH Healthcare surged 31 sen to RM9.02, while Public Bank shed five sen to RM4.95, CIMB dropped 30 sen to RM8.65, and Tenaga Nasional slid four sen to RM14.08.

On the most active list, ACE Market debutant ISF Group soared 15 sen to 48 sen, Capital A and Tanco Holdings inched up one sen each to 58.5 sen and RM1.34, respectively, and Velesto Energy eased one sen to 30.5 sen.

Among the top gainers, Dutch Lady Milk Industries rose 78 sen to RM33.80, Kuala Lumpur Kepong put on 26 sen to RM20.08, Allianz Malaysia gained 24 sen to RM23.24, and Country View jumped 19 sen to RM3.15.

Top decliners included Nestle, which dropped RM2.10 to RM113.50, Malaysian Pacific Industries fell 72 sen to RM32.50, Fraser & Neave slipped 50 sen to RM35.50, and United Plantations declined 28 sen to RM30.50.

On the index board, the FBM Top 100 Index decreased 106.90 points to 12,657.18, the FBM Emas Index declined 112.31 points to 12,842.39, the FBM Mid 70 Index was 150.84 points lower at 17,563.23, the FBM Emas Shariah Index slipped 91.94 points to 12,396.27, and the FBM ACE Index sank 88.82 points to 4,746.76.

Sector-wise, the Financial Services Index tumbled 205.98 points to 21,507.68, the Industrial Products and Services Index edged down 1.92 points to 178.01, and the Energy Index dropped 11.08 points to 757.43, while the Plantation Index increased 6.72 points to 8,444.78.

The Main Market volume fell to 2.04 billion units worth RM3.96 billion from yesterday’s 2.22 billion units worth RM4.20 billion.

Warrants turnover advanced to 956.75 million units worth RM137.89 million from 919.73 million units worth RM112.26 million previously.

The ACE Market volume expanded to 653.13 million units worth RM309.05 million from 441.14 million units worth RM145.30 million yesterday.

Consumer products and services counters accounted for 320.73 million shares traded on the Main Market, industrial products and services (308.75 million), construction (160.78 million), technology (250.71 million), financial services (179.53 million), property (259.32 million), plantation (43.29 million), real estate investment trusts (27.79 million), closed-end fund (10,600), energy (185.81 million), healthcare (176.10 million), telecommunications and media (41.29 million), transportation and logistics (48.43 million), utilities (39.61 million), and business trusts (220,700). — Bernama