Over 900 stocks fell across the market; the “hardest-hit” sector plunged 3.8%!

(Kuala Lumpur, Feb 5)
The local stock market ended sharply lower today as heavy selling pressure dragged the FTSE Bursa Malaysia KLCI down by 11.80 points or 0.68% to close at its intraday low of 1,731.02. Market sentiment remained weak, with decliners overwhelming gainers across most sectors.

The benchmark index opened slightly higher at 1,745.82 but quickly turned negative shortly after trading began. Losses widened throughout the morning, and the index slipped below the 1,740 psychological level by 11 a.m., remaining subdued for the rest of the session.

Small- and mid-cap stocks were hit harder, with the Small Cap Index plunging 1.6%, underperforming the broader market as investors adopted a risk-off stance.

Trading volume totaled 3.83 billion shares, with a market value of RM3.65 billion. Declining stocks dominated the market, with 921 counters falling, compared to 280 gainers and 472 unchanged stocks.

Out of 13 sectoral indices, only the REITs index managed to close higher, edging up 0.3%. All other sectors ended in negative territory. Technology stocks led the losses, tumbling 3.8%, followed by the energy sector (-2.0%), healthcare (-1.9%), construction (-1.4%), industrial (-1.2%) and utilities (-1.1%).

On the actives list, ZETRIX AI emerged as the main selling target, with its share price plunging 10.5 sen or 13.1% to 69.5 sen. The counter recorded a massive trading volume of 352.26 million shares, making it the most actively traded stock of the day.

Pharmaniaga also faced heavy selling pressure, falling 3.5 sen or 10.8% to 29 sen, with 238.46 million shares changing hands.

Meanwhile, VS Industry saw its share price decline by 2 sen or 4.8% to 39.5 sen, marking its lowest closing level since April 29, 2020. The company’s market capitalisation stood at approximately RM1.56 billion, with a trading volume of 39.3 million shares, ranking it as the 12th most active stock.