The pending announcement of the Malaysian Cabinet's line-up upset investors and saw the local stock market open weak at the weekend.
At the opening, the FBM KLCI index opened up 2.15 points at 1,489.36 before falling 7.53 points at 1,483.98 compared to Thursday's close at 1,491.51.
In the broader market, gains at 122 offset losses at 169, while 274 counters were unchanged, 1,668 untraded and 14 suspended.
Total revenue at 150.82 million units worth RM572.58 million.
According to Rakuten Trade Sdn Bhd, the KLCI is forecast to trade in the 1,485-1,500 range today while local importers are expected to take advantage of the ringgit's strengthening against the dollar on consumer and industrial companies.
The RHB Research note also stated that the local post-political situation clouded sentiment as investors looked forward to the formation of a new Cabinet and the rescheduling of the 2023 Budget.
Heavyweight stocks saw Maybank down 2 sen at RM8.60, Public Bank Bhd down 6 sen at RM4.41, Petronas Chemicals Group Bhd down 5 sen at RM8.62, CIMB Group Holdings Bhd down 12 sen at RM5.63 and Tenaga Nasional Bhd lost 13 sen at RM9.37.
Active stocks saw Advance Synergy Bhd, UEM Sunrise Bhd and Infomina Bhd gain 1 sen at 18.5 sen, 29 sen and 84 sen while Progressive Impact Corp Bhd remained flat at 20.5 sen and Velesto Energy Bhd was flat at 15 sen.
On the index board, the FBM Emas index fell 43.46 points at 10,651.01, the FBMT 100 index fell 45.34 points at 10,359.9, the FBM Emas Shariah index dropped 28.49 points at 10,874.77, the FBM 70 lost 28.28 points at 13,024.99 and the FBM ACE lost 19.22 points at 5,271.75.
In terms of sectors, the Financial Services index fell 103.8 points at 16,463.06, the Products and Services index fell 0.36 points at 182.88, the Energy index lost 0.25 points at 785.06 while the Plantation index rose 21.36 points at 6,842.65.
