KLCI Technical Analysis - 09 Oct, 2015

Market Review for KLCI

• The FBM KLCI index gained 2.95 points or 0.17% on Thursday. The Finance Index fell 0.45% to 14411.73 points, the Properties Index up 0.04% to 1166.44 points and the Plantation Index down 0.65% to 7397.14 points. 

• The market traded within a range of 19.43 points between an intra-day high of 1701.21 and a low of 1681.78 during the session.

•  The KLCI closed flat with 2.95 points higher at 1692.20 points. The performance of our local bourse was limited as profit taking kicked in following the rally in the past three days.

Market Forecast for KLCI

The FBM KLCI index can trade with positive sentiments in coming session and end the week with positive sentiments as technically it have crossed the level of 1602 and it can reach to the level of 1700 in near term.

Market Highlights

• Bursa Malaysia opened higher as blue chips climbed in early Friday trade, powered by Petronas stocks and banks, following the firm overnight close on Wall Street as the ringgit rallied.

• The FTSE Bursa Malaysia Kuala Lumpur key index was up 13.6 points or 0.8% to 1,705.80. Turnover was 249.48 million shares valued at RM118.50mil. There were 245 gainers, 94 losers and 163 counters unchanged.

• The ringgit rose to 4.1480 to the US dollar from 4.2358 the previous day and it was at 6.3100 to the pountd sterling from 6.4922.

• Dow Jones closed over 120 pts up ,market should react well on this after yesterday's almost panic sellings in anticipation of a pullback of regional markets especially the Dow as the Dow futures was down all the way throughout yesterday.

• Puncak Niaga Holdings Bhd (PNHB) has received confirmation that all conditions precedent in the sale and purchase agreement (SPA) for the Selangor water takeover deal have been fulfilled and satisfied.

• Gas Malaysia Bhd, which recently held a groundbreaking ceremony for its compressed natural gas (CNG) mother station at Gebeng, Pahang, remains confident on its new business, given its future potential and growth. 

• YTL Power won the bid to supply power from its existing 808-megawatt (MW) power plant in Paka, Terengganu, to the main grid for two years and 10 months from March 1, 2016.

• Daya Materials bagged a €17.7mil (RM88mil) subcontract from Axima Concept SA of France, to provide marine heating, ventilation and air conditioning equipment and services.