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Monday, August 6, 2012

FBM KLCI - sideways range-bound with an upward bias


Stocks on Bursa Malaysia closed firmer last Friday bolstered by gains in selected heavyweights with intermittent bargain hunting noted for most parts of the day. The uncertainty over the outcome of the European Central Bank meeting and the lack of fresh stimulus from the US Federal Reserve had kept investors sidelined. The FBM KLCI finished 1.59 points better at 1,635.04, after fluctuating between 1,627.2 and 1,635.77 points, and week-on-week, the benchmark index gained 10.1 points from previous Friday’s closing of 1,624.94. Losers led gainers by 402 to 334 while 344 counters closed unchanged. Total volume eased to 950.482 shares, worth 1.528 billion, from Thursday’s close of 1.175 billion shares valued at RM1.647 billion, while weekly volume increased to 5.885 billion shares valued at RM8.193 billion from 5.212 billion shares worth RM8.744 billion the previous week. Read more...

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