PERSISTENT selling in heavyweights, led by Maybank, dragged down the FTSE Bursa Malaysia KLCI (FBM KLCI) by 13.10 points to its lowest intra-day level of 1,627.64 yesterday.
Maybank, which contributed 3.296 points to FBM KLCI's decline, lost 21 sen, or 2.28 per cent, to RM9.
Affin Investment Bank head of retail research Dr Nazri Khan said the local bourse was also dampened by investors' wait-and-see attitude ahead of the general election.
"Based on historical trends, however, we believe any downside and weakness weeks before the general election is good buying opportunities."
Decliners led advancers by 355 to 314, with 320 counters unchanged, 653 untraded and 20 others suspended.
Total volume rose to 972.34 million shares worth RM2.46 billion from 788.2 million shares valued at RM1.6 billion.
Among the heavyweights, Sime Darby eased 19 sen to RM9, DiGi lost 11 sen to RM4.47, Axiata shed 11 sen to RM6.30 and IOI Corp fell seven sen to RM4.65.
British American Tobacco slipped RM1.10 to RM58.78, Genting Plantations declined 40 sen to RM8.53, Kuala Lumpur Kepong shed 34 sen to RM20.26 and Hong Leong Financial erased 30 sen to RM14.32.
Of the actives, Sanichi Technologies slid 1.5 sen to 10 sen, GPRO Technologies eased one sen to 11 sen, Compugates Holdings was flat at nine sen and Tebrau Teguh added two sen to RM1.12.
Meanwhile, FBM KLCI futures contracts on Bursa Malaysia Derivatives closed lower yesterday, tracking losses in the underlying cash market, dealers said.
March 2013 and June 2013 fell by 14.5 points each to 1,625.5 and 1,608 respectively, April 2013 eased 16 points to 1,621.5 and September 2013 lost 14 points to 1,608. Bernama