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

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

Hackers are working for financial profit and gain -- not fame.

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.

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

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