LethargyAfter a gung-ho buying spree yesterday and this morning, droopy eyed Bursa is on siesta mode now. most prices have come down and there is little bargain hunting going on. In less than half an hour, market will close for the Awal Muharam holiday tomorrow and will resume on Friday.
We all know that the last trading days were blue-chip driven. As the buyers were GLCs and fund managers,there would not likely be panic sellers nor bargain hunters to drive prices down. So the CI is at best, artificial and is no indicator of market forces per se. Moreover, the RM40 minimum brokerage charges continue to be a dampener for lower priced stocks and these are not moving in tandem with their gilded cousins.
At the close, the CI rose 1.92 points to 1491.66. There were 506 gainers compared to 340 losers. Volume of shares traded was 1.64 billion worth RM3.36 billion. The gainers included Chin Teck which rose 50 sen and Bursa, Sime Darby and United Plant which rose 30 sen each. Commerz lost 40 sen and Gamuda, Boustead and SAAG gave up 20 sen each.
The portfolio was as dull. Genting added 10 sen to RM7.85; Resorts improved 10 sen to RM4.14; Metronic tacked on a sen to 16.5 sen. Elsewhere KHSB declined 2 sen to RM1.01 while RCE was unchanged at 90 sen. Welli was down 0.5 sen to 56.5 sen BJ Sports Toto lost 15 sen to RM5.15.
Happy holidays.
Heartsong
We all know that the last trading days were blue-chip driven. As the buyers were GLCs and fund managers,there would not likely be panic sellers nor bargain hunters to drive prices down. So the CI is at best, artificial and is no indicator of market forces per se. Moreover, the RM40 minimum brokerage charges continue to be a dampener for lower priced stocks and these are not moving in tandem with their gilded cousins.
At the close, the CI rose 1.92 points to 1491.66. There were 506 gainers compared to 340 losers. Volume of shares traded was 1.64 billion worth RM3.36 billion. The gainers included Chin Teck which rose 50 sen and Bursa, Sime Darby and United Plant which rose 30 sen each. Commerz lost 40 sen and Gamuda, Boustead and SAAG gave up 20 sen each.
The portfolio was as dull. Genting added 10 sen to RM7.85; Resorts improved 10 sen to RM4.14; Metronic tacked on a sen to 16.5 sen. Elsewhere KHSB declined 2 sen to RM1.01 while RCE was unchanged at 90 sen. Welli was down 0.5 sen to 56.5 sen BJ Sports Toto lost 15 sen to RM5.15.
Happy holidays.
Heartsong
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