KUALA LUMPUR (March 22): The FBM KLCI reversed its early losses and moved into positive territory at mid-morning on Thursday, lifted by gains in Petronas-linked counters and select blue chips including Genting.
At 10.21am, the KLCI was up 2.84 points to 1,585.37. Gainers led losers by 251 to 188, while 287 counters were traded unchanged. Volume was 1.04 billion shares valued at RM280.35 million.
Maybank IB Research said the KLCI’s resistance areas of 1,577 and 1,594 would cap market gains, whilst the weaker support areas are at 1,562 and 1,575.
“Due to the US markets’ weaker tone last night, we could be in for a range-bound day,” it said, adding that any low-volume and price rebound on Thursday could be a great selling opportunity.
Among the gainers, BAT rose 40 sen to RM53.60, Petronas Gas up 20 sen to RM16.78, Jaya Tiasa 15 sen to RM7.65, KLK 14 sen to RM23.56 and MHC 11 sen to RM1.71.
Hong Leong Bank rose 10 sen to RM12.22 while Uzma, Petronas Dagangan, KESM and Genting advanced eight sen each to RM2.08, RM18.50, RM2.11 an RM10.78 respectively.
Utopia was the most active with 204.91 million shares done. The stock added 2.5 sen to 10 sen.
Other actives included Mtronic, Ingenuity Solutions, Ariantec, DBE Gurney, Key West and Palette.
Decliners included Sarawak Oil Palms, SMPC, Aeon Credit, KrisAsssets, Auto Ventures, Bernas, IOI Corp and BHIC.
At 10.21am, the KLCI was up 2.84 points to 1,585.37. Gainers led losers by 251 to 188, while 287 counters were traded unchanged. Volume was 1.04 billion shares valued at RM280.35 million.
Maybank IB Research said the KLCI’s resistance areas of 1,577 and 1,594 would cap market gains, whilst the weaker support areas are at 1,562 and 1,575.
“Due to the US markets’ weaker tone last night, we could be in for a range-bound day,” it said, adding that any low-volume and price rebound on Thursday could be a great selling opportunity.
Among the gainers, BAT rose 40 sen to RM53.60, Petronas Gas up 20 sen to RM16.78, Jaya Tiasa 15 sen to RM7.65, KLK 14 sen to RM23.56 and MHC 11 sen to RM1.71.
Hong Leong Bank rose 10 sen to RM12.22 while Uzma, Petronas Dagangan, KESM and Genting advanced eight sen each to RM2.08, RM18.50, RM2.11 an RM10.78 respectively.
Utopia was the most active with 204.91 million shares done. The stock added 2.5 sen to 10 sen.
Other actives included Mtronic, Ingenuity Solutions, Ariantec, DBE Gurney, Key West and Palette.
Decliners included Sarawak Oil Palms, SMPC, Aeon Credit, KrisAsssets, Auto Ventures, Bernas, IOI Corp and BHIC.
