Shares closed flat due to profit-taking in selected blue chips, dealers said.
Dealers said retail investors plowed fresh funds into lower liners and penny-stocks to lift the bourse.
“A spate of profit taking in blue chip stocks weighed on the market in early trade but this was simply a mild correction after the recent run-up.” a dealer told Dow Jones Newswires.
“Clearly, the market’s uptrend has not been broken and we are likely to see further gains tomorrow.”
In the market, 1.1 billion shares changed hands, almost triple the three-month daily average of 446 million shares. April index futures dropped 0.1 per cent to 945.00.
Among gainers, Proton added 13.1 per cent to RM2.25, Public Bank gained 1.9 per cent to RM8.25 and Sapuracrest Petroleum rose 10.8 per cent to RM1.03.
On the downside, Genting fell 4.5 per cent to RM4.28, Axiata lost 3.2 per cent to RM1.81 and Sime Darby fell 1.5 per cent to RM6.40, the first drop in three days.
Malaysia’s "high" palm oil price is poised for a "correction" in the second half of the year because of rising production and the global recession, Maybank Investment Bank Bhd said in a report today. Kuala Lumpur Kepong Bhd. lost 1.7 per cent to RM11.30.
KNM Group Bhd, a Malaysian oil and gas services provider, rose 3.4 per cent to 46 sen, the highest level since Jan 16.
The company had its stock rating raised by RHB Research Institute Sdn to reflect a stronger orderbook this year.
The company was raised to "outperform" from "underperform" and its target price increased to 63 sen from 39 sen, RHB Research said in a report today.
Kumpulan Perangsang Selangor Bhd, the listed unit of Selangor state and owner of a stake in a water operator, jumped 10.5 per cent to RM1.58, the steepest gain since Nov 4.
Wah Seong Corp, a Malaysian oil and gas services provider, jumped 5.4 per cent to RM1.5, the highest close since Sept 9.
AmResearch Sdn raised its stock rating to “buy” from “hold” because the company will benefit from more contracts amid higher crude oil prices. - Agencies