KUALA LUMPUR: The domestic market was seen undergoing a consolidation phase on Thursday following the previous session's rebound as investors sought out trading leads amid the heightened anxieties in global markets.

       Bursa Malaysia has benefitted from rising energy prices, which boosted a rally in oil and gas, and plantation counters.

       However, growing geopolitical tensions between Ukraine and Russia are setting investors on edge, with US and European markets falling sharply on the prospect of all-out war.

       "Stocks should extend correction on external market volatility, with cautious sentiment to persist amid elevated geopolitical tensions in eastern Ukraine and subsequent sanctions on Russia, which tend to prop up oil & gas and plantation stocks," said TA Securities Research in a note.

       It said better index support is seem from 1,550 with 1,520 and the 1,500 psychological level as stronger supports.

       At 9.05am, Malaysia's benchmark FBM KLCI was down 4.72 points to 1,581.42.

       There was a negative market breadth with 230 decliners compared to 218 gainers.

       However, despite the market negativity, plantation counters remained afloat as crude palm oil futures jumped 1.3% to RM6,588 a tonne.

       Sime Darby Plantation rose fiven sen to RM5.70, IOI gained four sen to RM4.46 while Kuala Lumpur Kepong remained untraded.

       Petronas Chemicals however slipped back five sen to RM9.18 while Petronas Gas gained two sen to RM17.20.

       Brent crude futures were up 1% to US$97.80 a barrel while US WTI was also up 1% to US$93.04 a barrel.

       Among the top actives on the market, DNeX dropped four sen to RM1.17, JTiasa gained 6.5 sen to 95.5 sen and JAG rose 0.5 sen to 36.5 sen.