Alas ! It's No Punter's Market This DaySo the plantation and the financial stocks locked hands and push up the index. There was a little support from property and construction stocks ahead of the Friday Budget speech which many are hoping for goodies for the property market perhaps in the reduction of stamp duties. Then there is the possibility of a tax rebate for REITS.
Other than that, today's market is no punter's market. Shares are rumbaing from side to side and if you are not careful you will be holding these hot potatoes and having to pay for them when T+3 is over. The water stocks have totally disappeared in terms of support though JAKS continue to be in a secondary volume leader position outside of the radar. KHSB is also losing its support and the momentum for KPS has dissipated.
CI started quite well, went down a wee bit and finished off at 1288.03 for a 14.10 points rise. So looks like there is a possibility that the big boys may attempt a 13 point push to get the CI to go beyond 1300 by Budget Speech Day. Volume was about average at 531 million shares valued at 829 million ringgits. Gainers, expectedly led losers 507 to 215.
The gainers were TENAGA upping 45 sen, Muhibbah topping up 40 sen, DNP pushing up 36 sen and KLK gaining 30 sen. The political Equine also saw action adding 33 sen. Losers were DFZ which erase 50 sen, Lion Div which reduced its share price by 30 sen while shockingly AHPlant lost 24 sen. Another surprise was property stock E&O which gave up 13 sen.
The portfolio saw action on Genting which up 10 sen, AMDB which gained 1.5 sen, JAKS adding a sen to 94.5 sen and Metronic springing to life adding 0.5 sen to 17.5 sen. Welli also added half a sen to 97.5 sen and so did RCE to 80.5 sen. BJ Sports Toto lost 2 sen to RM4.96 while Resorts added 6 sen to RM3.86. I believe the gaming twins, Resorts & Genting are about ready to take over the Bursa leadership in a matter of time.
This market will be in the doldrums in the afternoon. There is a possibility of a sell-down of those stocks that moved up last week. There is also the other possibility that syndicates may punt up AMDB and JAKS before the Budget speech.
Meanwhile, let us look at the painting of The Lady of Shallot and enjoy the state of serenity she is in.
Heartsong
The portfolio saw action on Genting which up 10 sen, AMDB which gained 1.5 sen, JAKS adding a sen to 94.5 sen and Metronic springing to life adding 0.5 sen to 17.5 sen. Welli also added half a sen to 97.5 sen and so did RCE to 80.5 sen. BJ Sports Toto lost 2 sen to RM4.96 while Resorts added 6 sen to RM3.86. I believe the gaming twins, Resorts & Genting are about ready to take over the Bursa leadership in a matter of time.
This market will be in the doldrums in the afternoon. There is a possibility of a sell-down of those stocks that moved up last week. There is also the other possibility that syndicates may punt up AMDB and JAKS before the Budget speech.
Meanwhile, let us look at the painting of The Lady of Shallot and enjoy the state of serenity she is in.
Heartsong
No comments:
Post a Comment