KUALA LUMPUR: There was a slight bounce on the FBM KLCI on Tuesday after a third consecutive day of losses in the previous day.
The benchmark index slipped slightly to 1,624.50 a the opening bell but rose shortly after to hover just below the 100-day simple moving average at 1,628.57.
Rakuten Trade said following the index's fall below the 1,630 support, consolidation is expected to persist until the emergence of a new catalyst.
"A decisive breakthrough above the 1,645 resistance level is crucial for the index to reestablish its bullish trajectory.
"For today, the FBM KLCI is expected to trade within the 1,620 to 1,630 range, reflecting cautious market sentiment," it said in a note.
Among the leading blue chips, Gamuda jumped eight sne to RM4.94, YTL Power rose four sen to RM4.48 and MISC added four sen to RM7.64.
Nestle climbed 66 sen to RM97.14.
Other gainers on the market included United Plantations adding 44 sen to RM31.42, MPI rising 26 sen to RM25.36 and F&N putting on 12 sen to RM27.12.
Of actives, Velocity was unchanged at eight sen, Talam Transform
was flat at 2.5 sen and Aizo unchanged at 13.5 sen.
