KUALA LUMPUR: Trading volume on Bursa Malaysia neared the one billion offers early Monday, with overwhelming trade found in penny oil and gas stocks.
At 9.30am, the KLCI was up 2.38 focuses or 0.13% to 1,825.05. Turnover was 924.02 million offers esteemed at RM379.11mil. There were 354 gainers, 219 failures and 316 counters unaltered.
Kenanga Investment Bank Research said the fundamental standpoint of the KLCI is as yet positive, upheld by the bullish MACD merging alongside upticks in other key energy markers.
"From here, expect a retest of the 1,840 (R1) level in the close term. A conclusive breakout could see the list progressing towards 1,866 (R2). Inability to do as such, could see the record backtracking back to 1,800 (S1) and 1,793 (S2), showing chances to purchase on plunges," it said.
Reuters detailed oil costs plunged on Monday as rising boring action in the United States indicated higher future yield, in spite of the fact that yield cuts drove by OPEC and Russia and also solid request kept unrefined close December 2014 highs achieved a week ago.
Brent rough prospects were at $69.72 per barrel while US West Texas Intermediate (WTI) unrefined fates were at US$64.27 a barrel.
At Bursa Malaysia, Sumatec was the most dynamic with 122 million offers done, up one sen to eight sen. UMW Oil and Gas added one sen likewise to 43 sen while Sapura Energy added one sen to 91 sen and Hibiscus four sen higher at RM1.16.
Settle was the best gainer, up RM1 to RM105 while BAT added 22 sen to RM34.02. Heineken fell 16 sen to RM19.
Kuchai rose 25 sen to RM2.53 with 3.25 million offers done, Kluanggained 15 sen to RM4.75 and KL Kepong 12 sen higher at RM25.30.
KESM propelled 24 sen to RM21.30, Top Glove 17 sen to RM9.17 and LPI 12 sen to RM20.
Petronas Gas added 12 sen to RM19.12 while Hengyuan fell 72 sen to RM16.16.
Different decliners were Uchitec, down 10 sen to RM3.10, Mercury and Litrak nine sen bring down at RM1.99 and RM5.99.
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