KUALA LUMPUR: Tenaga Nasional, Telekom and CIMB powered the FBM KLCI higher early Tuesday as investor sentiment was galvanised by the strong overnight close on Wall Street.
At 9.07am, the FBM KLCI was up 8.62 points or 0.49% to 1,764.67 -- adding to the over 14 points gained last Friday.
Turnover was 227.29 million shares valued at RM99.55mil. There were 275 gainers, 58 losers and 226 counters unchanged.
Asian equities were steady on Tuesday and the euro retained gains as markets' euphoria over a centrist victory in the first round of the French presidential election subsided, though near-term investor sentiment remains positive, Reuters reported.
Kenanga Investment Bank Research said last Friday, the KLCI rose 14.44 pooints or 0.83% to 1,756.05 ahead of the extended weekend.
Sentiment on the broader market was also stronger, with 588 gainers against 320 decliners and 386 counters traded unchanged.
“Chart-wise, the KLCI’s primary trend is positive with the benchmark index now appearing to have broken out of its short-term consolidation phase/ 20-day SMA.
“At the same time, the MACD has also intersected its Signal-line to reflect a shift in momentum from bearish to bullish. From here, expect bias to now be on the upside, towards 1,760 (R1) and
1,776 (R2) further up. Key support levels are now 1,743 (S1) and 1,727 (S2),” it said.
Telekom and Tenaga rose 12 sen each to RM6.60 and RM13.86 while CIMB added 11 sen to RM5.72.
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gained 24 sen to RM16.08 with 200 shares done while Petronas Dagangan climbed 20 sen to RM24.20 with just 100 shares done.
Time dotcom joined the rally, adding 20 sen to RM9.
GDex attracting strong interest, gaining 13 sen to RM2.59 in active trade.
BAT fell the most, down 54 sen to RM45.98 while CCB shed nine sen to RM2.74 and Astro three sen lower at RM2.69.
Seacera fell seven sen to RM1.21 and Seacera-WA lost 4.5 sen to 22 sen after it proposed to issue 70 million to 80 million new shares to raise RM70mil.
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