A dealer said most investors would stay on the sidelines until after the general election.
“So, the FBM KLCI is actually not going anywhere,” he said.
The FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 0.04 point to close at 1,624.14.
The benchmark index, which opened at 1,625.33, hovered between 1,623.92 and 1,627.07 throughout the day.
Meanwhile, HwangDBS Vickers Research said the benchmark index moved sideways with a slight downward bias in the absence of fresh market developments.
It may move towards the immediate support line of 1,615 ahead, it said.
Nikkei fell 144.84 points to 11,253.97 as the yen continued to strengthen against major currencies.
China’s Shanghai Composite rose 19.88 points to 2,313.22, New Zealand’s NZSE 50 gained 37.40 points to 4,276.32 and Hong Kong’s Hang Seng Index added 57.32 points to 22,577.01 following Wall Street’s overnight gains.
Back home, the Plantation Index lost 36.68 points to 7,847.49 and the Industrial Index rose 6.28 points to 2,788.41.
The FBM Emas Index rose 11.141 points to 11,052.03, FBMT100 added 10.94 points to 10,906.16 and the FBM Mid 70 Index went up 63.78 points to 12,073.8.
The Finance Index rose 29.09 points to 15,041.2 and the FBM Ace Index was 14.83 points higher at 3,959.45.
Total volume rose to 895.99 million shares worth RM1.55 billion from 801.35 million shares worth RM1.37 billion yesterday.
Advancers led decliners by 349 to 303 with 301 counters unchanged, 713 untraded and 53 others suspended.
Among top gainers, Dutch Lady Milk Industries rose RM1.74 to RM44.40, UMS Holdings increased 59 sen to RM2.56 and United Bintang added 29 sen to 79 sen.
Of the actives, Patimas lost one sen to four sen, while The Media Shoppe and Compugates Holdings were down half sen each to 5.5 sen and 8.5 sen respectively.
In heavyweights, Maybank fell two sen to RM9.12, Sime Darby was flat at RM9.17 and Axiata rose one sen to RM6.34.
Volume on the Main Market increased to 696.79 million shares valued at RM1.53 billion from 643.19 million shares valued at RM1.35 billion previously.
Turnover on the ACE Market rose to 157.57 million units worth RM14.93 million from 136.76 million units worth RM12.65 million yesterday.
Warrants surged to 40.36 million shares valued at RM1.62 million from 20.3 million units valued at RM1.74 million yesterday.
Consumer products accounted for 24.4 million shares on the Main Market, industrial products 128.9 million, construction 20.1 million, trade and services 246.31 million, technology 90.54 million, infrastructure 23.5 million, finance 87.2 million, hotels 4.76 million, properties 49.43 million, plantations 13.4 million, mining 77,900, REITs 8.17 million and closed/fund 19,900.