KUALA LUMPUR: Blue chips edged higher early Friday with some buying support sees in Petronas Gas and Maybank while the broader market firmed up slightly.
At 9.37am, the KLCI was up 3.76 points or 0.23% to 1,623.49. Turnover was 462.88 million shares valued at RM256mil. There were 243 gainers, 90 losers and 256 counters unchanged.
Kenanga Research said while overall technical outlook for the KLCI still appears bearish, it believes that it may not persist as stochastic indicator has been in the oversold zone for quite some time.
“Should a rebound happen, we look towards 1,660 (R1) and 1,700 (R2) as resistance levels. Conversely, downside supports can be found at 1,615 (S1) and 1,600 (S2),” it said.
Petronas Gas rose 14 sen to RM17.90 while Maybank added 10 sen to RM9.10 but Public Bank lost six sen to RM22.50.
BIMB and Allianz added 10 sen each to RM4.64 and RM13.50 in thin trade.
DWL continued to advance, up 10 sen to RM1.20 in active trade.
Iskandar Waterfront City rose nine sen to 95 sen in very active trade while Ekovest gained four sen to 63 sen and its warrants 3.5 sen to 15 sen.
Pentamaster rose nine sen to RM4.24 but MI lost five sen to RM2.17.
Press Metal
fell five sen to RM4.45, GCE 4.5 sen to 45 sen while Sarawak Plantation and Utusan lost three sen to RM1.61 and 12 sen.
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