Bursa Malaysia remained lower at midday on selling pressure in selected heavyweights, led by the utilities, plantations, telecommunications and media sectors.
At 3.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.44 points (0.51%) to 1,551.17 from yesterday's close of 1,558.91.
The broader market was negative, with losers leading gainers 470 to 276, with 379 counters unchanged, 1,245 untraded and 14 suspended.
Volume stood at 1.33 billion shares worth RM1 billion.
Malacca Securities Sdn Bhd in a note today said despite yesterday's sell-off in banking stocks, it saw this as a potential buying opportunity.
With the overnight policy rate (OPR) remaining unchanged, banks' net interest margins are expected to remain stable, supporting steady earnings.
Banking stocks also offer consistent dividend payments, making them attractive long-term investments.
As for other heavyweights, Public Bank fell three sen to RM4.56, MISC, down one sen to RM7.22, YTL Corporation fell five sen to RM1.83, but Maybank and CelcomDigi rose two sen each to RM10.58 and RM3.57 respectively.
On the index board, the FBM Emas Index narrowed 62.37 points to 11,540.97, the FBM 70 Index fell 82.73 points to 16,381.69.
