The FBM KLCI ended higher as buying activities returned following a downtrend of late. In line with prevailing strong crude oil price, the Oil & Gas counters managed to garner solid buying support.
“We believe accumulation of stocks to continue amid improving trading volume over the past few days hence expect the index to trend between the 1,460-1,470 range today,” says Rakuten.
Stocks bargain
FBM KLCI closed higher due to bargain hunting activities following 2 days of sell-down. The benchmark index gained 0.40% or 5.79 points to end at 1,460.62. Gainers were led by MISC, CIMB and MRDIY. Market breadth was positive with 531 gainers against 380 losers. Total volume stood at 4.18bn shares valued at RM2.19bn.
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