PETALING JAYA: The FBM KLCI is expected to remain under pressure in the near term as persistent selling in banking and data centre-related stocks weighs on market sentiment, according to Berjaya Research Sdn Bhd.
The benchmark index fell 12.51 points, or 0.77%, to close at 1,604.07 points on Tuesday, surrendering its intraday gains amid renewed selling pressure in selected banking and data centre-related counters.
Berjaya Research said market breadth remained negative, with 745 decliners against 395 gainers, reflecting widespread weakness across the local market.
Trading volume declined 23.34% to 2.79 billion shares from 3.64 billion shares previously, while trading value fell 20.55% to RM2.78 billion.
