KUALA LUMPUR (March 13): The FBM KLCI ticked up 0.15% at midday break today, lifted by select blue chips, while the broader market sentiment remained cautious.

At 12.30pm, the benchmark index added 2.63 points to 1,720.21. The index had earlier dipped to its intra-morning low of 1,715.35.

Losers led gainers by 475 to 380, while 341 counters traded unchanged. Volume was 2.03 billion shares, valued at RM1.41 billion.

The top gainers included Iskandar Waterfront City Bhd (IWCity), Pos Malaysia Bhd, SAM Engineering & Equipment Bhd, Hong Leong Bank Bhd, P.I.E. Industrial Bhd, Bursa Malaysia Bhd, UMW Holdings Bhd, Nestle (M) Bhd, Knusford Bhd and Kuala Lumpur Kepong Bhd.

The actives included IWCity, Priceworth International Bhd, Borneo Oil Bhd, AT Systemization Bhd, Benalec Holdings Bhd, Ekivest Bhd, Hibisbus Petroleum Bhd and KNM Group Bhd.

The top losers included British American Tobacco (M) Bhd, Tahps Group Bhd, KESM Industries Bhd, Amway Holdings (M) Bhd, IQ Group Bhd, Globetronics Technology Bhd and Petron Malaysia Refining and Marketing Bhd.

Asian shares rose on Monday, taking their cue from gains on Wall Street, after strong U.S. job data, though the mood was cautious as oil prices plunged to 3 1/2-month lows on fresh worries of oversupply, according to Reuters.

A confluence of major events this week, including an expected interest rate hike by the U.S. Federal Reserve, a potentially divisive election in the Netherlands and a Group of 20 (G20) finance ministers' meeting, kept many investors on edge, it said.

AffinHwang Capital Research said the FBMKLCI retraced after short term bearish divergence unfolded on the daily chart, with downward bias anticipated to escalate.

“Almost all regional markets closed lower in their last trading sessions, whilst the U.S. market closed mixed.

“Local stocks are expected to trade in tight range with downward bias,” it said.