Sentiment is weak as shares continue to consolidate February gains. The trend will be somewhat like this in the near term.

Gains in the market are fund-led. Trading in the region remains relatively strong with funds pursuing select stocks, among them metals. Overnight gains on Wall Street also helped sentiment.

The market turned lower in late morning due to profit-taking after the sharp gains of 200 points yesterday.

Trading is cautious ahead of the US jobs data. It should give us an idea about the interest rate trends in the coming months.

Profit-taking took hold following recent gains. I believe the lack of any significant local news prevented a further rise in the index.

The weakness in the market is likely to continue next month before it builds up momentum for an upside.