Running Out of Steam...

Well, it was one of those days. Dow was down and so there was no direction to follow. Bursa charted its own path and went up initially. It has slowed down at the close upping the CI by 5.39 points to 1322.63. Gainers were overtaken by losers 402 to 279. Volume continued to be good and so is value. Some 562 million shares changed hands valued at a good RM883 million. Good breadth.

At the noon close; gainers included Digi moving far ahead with another 50 sen gain.Kinstel is still up, this time by another 35 sen. PPB has also joined the bandwagon putting on 30 sen while Sime is pushed up 20 sen. Bursa which was a glory warrior yesterday dropped 40 sen while Asiafile got filed down 15 sen. Engtex suffered a 10.5 sen loss while Shell declined 10 sen.

The portfolio was quite alright. RCE sprang into action adding 5 sen to 89.5 sen while Resorts added 4 sen to RM3.94. Adding 10 sen to RM7.75 was Genting. Metronic was sidelined at its overnight level of 16 sen while Welli and AMDB both gave up 0.5 sen each to 96.5 and 38.5 sen respectively. Meanwhile, JAKS dropped a sen to 82 sen.

I believe market is in a holding position and there may be some bargain hunting over speculative counters in the afternoon. For the blues, day is done.

Heartsong