The emerging profit-taking activity caused the Bursa Malaysia barometer index to retreat from its 2-month high.
At the opening, the FBM KLCI index started 3.84 points at 1,476.27 before falling 3.96 points at 1,476.15 compared to Wednesday's close at 1,480.11.
In the broader market, losses at 149 outpaced gains at 121, while 200 counters were unchanged, 951 untraded and 25 suspended.
Total revenue at 182 million units worth RM38.7 million.
According to Malacca Securities Sdn Bhd, market sentiment is 'pickled' with investors weighing the potential for a recession in 2023 while watching the reopening of China and cases of infection.
As a result, the local market is expected to enter a period of window-dressing with the banking and telecommunications sectors being preferred.
Heavyweight stocks saw Axiata Group Bhd and AMMB Holdings Bhd lose 3 sen at RM2.98 and RM4.08, Maybank and Dialog Group Bhd shed 6 sen at RM8.65 and RM2.42. Telekom Malaysia Bhd (TM) lost 8 sen at RM5.32 and Tenaga Nasional Bhd (TNB) fell 5 sen at RM9.25.
Meanwhile, PPB Group Bhd gained 12 sen at RM17.60 and Kuala Lumpur Kepong Bhd added 12 sen at RM21.82.
Active stocks saw Eduspec Holdings Bhd down 0.5 at 1.5 sen while Focus Dynamics Group Bhd was flat at 2 sen and Saudee Group Bhd flat at 4.5 sen.
On the index board, the FBM Emas index fell 23.52 points at 10,595.36, the FBMT 100 index fell 23.39 points at 10,312.29, the FBM Emas Shariah index lost 26.71 points at 10,823.67, the FBM 70 index fell 11.06 points at 12,999.17 while the FBM ACE index rose 24.682 points at 38,31.
In terms of sectors, the Financial Services index fell 42.37 points at 16,326.67, the Plantation index dropped 4.94 points at 6,995.28, the Products and Services index fell 0.04 points at 180.86 and the Energy index plunged 6.44 points at 777.17.
