Wouldn't It Be Lovely....?

So I was right. Bursa was at the starting block and it did a commendable performance in the afternoon session to add a fabulous 11.3 points to up the CI to 1317.24 points. Now, all we need is a conservative marginal strengthening of the index to encourage the return of foreign funds because Bursa is still relatively cheap.

Gainers swept away losers 515 to 314. Volume was excellent at 1.14 million shares worth a noteworthy RM1.82 billion. Bursa has returned with some dignity.Among gainers were the bellwether Bursa counter itself shooting stars with a RM1.10 sen gain.Kinstel loaded on 70 sen while Gamuda rode in with a 55 sen gain. Digi rang in 50 sen.

Losers were GPlus shedding 53 sen;BAT dropping 50 sen, Lion Div losing 30 sen and Commerce going down 20 sen. Among blue chips, Maybank added 10 sen on continuous buying support and TNB jumed 45 sen. TM was unchanged at RM9.55 while Sime topped up 25 sen. So it is quite clear the GLCs are in the market buying up blue chips. Individuals and groups who buy now may make a small fortune if the market runs-up for Hari Raya and Deepavali.

The portfolio performed fairly well. Resorts World added 6 sen to RM3.90 while Berjaya Sports Toto added 2 sen to RM5.00. JAKS and RCE both added 0.5 sen to 83 sen and 84.5 sen respectively. At overnight level was Metronic at 16 sen. Welli dropped 2 sen to 97 sen while Genting lost 10 sen to RM7.65

I believe if Dow performs well tonight there will be a follow through of light blues and speculative stocks such as KPS,JAKS, KHSB and AMDB on bursa tomorrow.

Heartsong