KUALA LUMPUR: The profit-taking on Bursa Malaysia continued as it opened for the final trading day of the year as investors took profit off the recent rally before the weekend.

       At 9.10am, the FBM KLCI was down 1.83 points to 1,541.78.

       However, Malacca Securities Research noted some positive developments that could offer further upside to the market.

       "We believe the year-end window-dressing should sustain the current rebound momentum.

       "Also, with both the Bursa and MOF adjusting the share trading stamp duty charges with a capping of RM1,000, we expect this to cheer the market players at least for 2022," it said in a report.

       It cautioned however that uncertainty remains over the spread of the Omicron variant of Covid-19.

       On its sector outlook, the research firm said traders may focus on solid fundamental companies under the consumer sector for the recovery theme.

       It also expects the technology sector to remain the leader going forward amid steady earnings visibility.

       On the blue-chip index, most stocks were seen retracing recent gains, including Maybank down four sen to RM8.26, Petronas Chemicals falling two sen to RM8.77, Press Metal dropping three sen to RM5.75 and Sime Darby Plantation dippnig four sen to RM.376.

       Border market gainers included Vitrox rising 32 sen to RM20.26, Genetec up 12 sen to RM40.40 and ATech climbing 10 sen to RM2.43.

       Top actives were SMTrack up 0.5 sen to 18 sen, NCT gaining two sen to 53.5 sen and WZ Satu rising -0.5 sen to 24 sen.

       Overall, there were 146 positive counters compared to 127 negative, giving the market a positive breadth.