KUALA LUMPUR: Blue chips shook off their initial wavering on Monday, with Petronas Gas driving the gainers, regardless of a decrease in oil costs and the Ringgit slipped against the US dollar.
At 10am, the FBM KLCI was up 3.11 focuses or 0.18% to 1,711.49. Turnover was 817.95 million shares esteemed at RM296.53mil. There were 334 gainers, 237 washouts and 323 counters unaltered.
Reuters announced oil costs slipped in Asian exchange on Monday, wiping out a portion of the additions of the past session in the midst of progressing worry over Russia's consistence with a worldwide arrangement to cut oil yield.
Figures discharged a week ago demonstrated Russia's February oil yield was unaltered from January at 11.11 million barrels for every day (bpd).
US rough fates fell 19 pennies to US$53.14 a barrel while Brent unrefined prospects dropped 13 pennies, to US$55.77.
The Ringgit slipped 0.06% against the US dollar to 4.455 from the past close of 4.452.
Maybank Investment Bank Research said regardless of the minor difficulty last Friday, where the KLCI shut down 7.29 focuses to 1,708.38 on the back of benefit taking exercises, the KLCI is still skilled to test its past high as ebb and flow energy stays solid.
"We anticipate that KLCI will exchange inside the scope of 1,704 to 1,720 in the close term. Drawback hazard is pegged at 1,700 and 1,690," it said.
Petronas Gas rose 20 sen to RM20 while SAM Engineering climbed 17 sen to RM5.91 and MPI 16 sen higher at RM9.94. JHM proceeded with its rally, up 12 sen to RM2.85, Mudajaya added nine sen to 91 sen and BAT eight sen higher at RM48.24.
Nonetheless, Petronas Dagangan fell 24 sen toRM24.56, Nestle 18 sen bring down at RM76.02, Magni-Tech was down 12 sen to RM5.08 and Bursa lost 11 sen to RM8.98. Scientex lost nine sen to RM7.45.
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