KUALA LUMPUR: Blue chips led by Petronas Dagangan and Petronas Gas advanced early Thursday but holding back the market was some mild selling pressure seen in power giant Tenaga Nasional.
At 9.13am, the KLCI was up 4.14 points or 0.25% to 1,636,61. Turnover was 62.64 million shares valued at RM51.45mil. There were 163 gainers, 63 losers and 138 counters unchanged.
Kenanga Investment Bank Research said the KLCI had on Wednesday closed up 2.74 points or 0.17% at 1,632.47.
“Despite closing in the black, the FBM KLCI had formed a ‘Hanging Man’ candlestick yesterday which reflects indecision in market direction.
“This coupled with the low trading volume and bearish MACD trend suggest that the KLCI still lacks impetus for a near-term recovery,” it cautioned.
The research house said unless the 1,632/1,637 (R1) resistance levels are taken out in a decisive manner, it expects the KLCI to remain directionless with a downside bias. Support levels are 1,620 (S1) and 1,600 (S2) further down.
Petronas Dagangan rose 16 sen to RM23.36 and Petronas Gas added 12 sen to RM21.62 in relatively thin trade. HLFG added 14 sen to RM14.94.
Nestle was the top gainer, up RM1.10 to RM77.20 with just 100 shares done, BAT added 32 sen to RM44.58, Apollo 17 sen up to RM5.75,
However, Ajinomoto fell 22 sen to RM13.56, F&N fell 10 sen to RM23.30 with 100 shares done and Carlsberg added six sen to RM13.86. QL Resources shed three sen to RM4.36.
Genting Plantations rose 18 sen to RM10.86 while Kossan gained 14 sen RM6.58.
Lafarge lost four sen to RM7.42 while Ireka, HL Industries and MAHB fell three sen each to 65 sen, RM9.75 and RM6.19 respectively.
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