KUALA LUMPUR (Feb 27): RHB Retail Research said its bullish view on the FBM Small Cap Index (FBMSC) remains intact despite yesterday's weak performance.

In a technical analyser today, the research house said that on Monday, the FBMSC registered an 18.58-point loss to 17,009.76 points.

It said a black candle was formed after it had oscillated between a low of 16,975.46 points and high of 17,103.89 points.

"Nevertheless, this does not negate our positive view, as yesterday's decline was only a minor one.

"As long as no firm bearish follow-through occurs, we opine that the index was merely taking a breather.

"This is a normal reaction, especially after the FBMSC successfully climbed above the 16,969-point mark on Feb 23. Presently, market sentiment remains encouraging," it said.