Penny O&G stocks drive Bursa volume to 10 month high
KUALA LUMPUR: Heavy churning of penny oil and gas (O&G) stocks on Thursday drove the total market volume to the highest since May last year amid a firmer broader market though blue chips gave up some gains.
At 5pm, the KLCI was down 3.72 points or 0.22% to 1,674.52. Advancers beat decliners 491 to 400 while 387 counters were unchanged.
At 5pm, the KLCI was down 3.72 points or 0.22% to 1,674.52. Advancers beat decliners 491 to 400 while 387 counters were unchanged.
However, turnover surged to 4.77 billion shares valued at RM2.74bil, reflecting the low quality buying.
Nine out of the 10 most active stoicks were O&G counters. Sino-Hua Ann jumped seven sen to 29 sen with 375 million shares done, Destini also added seven sen to 32.5 sen, Spura Energy eked out one sen to 35 sen, Perdana Petroleum three sen to 48 sen while Carimin climbed 10.5 sen to 94 sen. Bumi Armada was flat at 19.5 sen and Hibiscus five sen to RM1.07.
Among the KLCI stocks, Petronas Dagangan fell 18 sen to RM25.12, Petronas Chemical lost five sen to RM9.25, Petronas Gas fell two sen to RM17.68 but Dialog was flat at RM3.20.
Maybank fell six sen to RM9.49 and erased 1.15 points, Public Bank fpour sen to RM24.44, Hong Leong Bank two sen to RM20.74, AmBank unchanged RM4.51 while CIMB added two sen to RM5.47 and RHB Bank four sen higher at RM5.83.
Tenaga lost six sen to RM12.64 as the power giant neither confirmed nor denied that there would be a change in leadership of the state-owned electricity giant.
It said any material statement on changes of the company’s leadership or matters that will affect the company will be issued officially at the appropriate time.
Genting lost three sen to RM6.98 and Sime Darby shed one sen to RM2.15 but GentingM added three sen to RM3.41. Press Metal gaine seven sen to RM4.52.
As for telcos, Axiata lost six sen and erased nearly one point, Maxis four sen lower at RM5.29 and Digi two sen to RM4.53.
Nine out of the 10 most active stoicks were O&G counters. Sino-Hua Ann jumped seven sen to 29 sen with 375 million shares done, Destini also added seven sen to 32.5 sen, Spura Energy eked out one sen to 35 sen, Perdana Petroleum three sen to 48 sen while Carimin climbed 10.5 sen to 94 sen. Bumi Armada was flat at 19.5 sen and Hibiscus five sen to RM1.07.
Among the KLCI stocks, Petronas Dagangan fell 18 sen to RM25.12, Petronas Chemical lost five sen to RM9.25, Petronas Gas fell two sen to RM17.68 but Dialog was flat at RM3.20.
Maybank fell six sen to RM9.49 and erased 1.15 points, Public Bank fpour sen to RM24.44, Hong Leong Bank two sen to RM20.74, AmBank unchanged RM4.51 while CIMB added two sen to RM5.47 and RHB Bank four sen higher at RM5.83.
Tenaga lost six sen to RM12.64 as the power giant neither confirmed nor denied that there would be a change in leadership of the state-owned electricity giant.
It said any material statement on changes of the company’s leadership or matters that will affect the company will be issued officially at the appropriate time.
Genting lost three sen to RM6.98 and Sime Darby shed one sen to RM2.15 but GentingM added three sen to RM3.41. Press Metal gaine seven sen to RM4.52.
As for telcos, Axiata lost six sen and erased nearly one point, Maxis four sen lower at RM5.29 and Digi two sen to RM4.53.
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Related Stocks
| ARMADA | 0.590 |
| CIMB | 6.670 |
| DESTINI | 0.025 |
| GENTING | 4.540 |
| HLBANK | 19.540 |
| MAXIS | 3.480 |
| PBBANK | 4.210 |
| PERDANA | 0.330 |
| PETDAG | 21.600 |
| PETGAS | 18.080 |
| RHBBANK | 5.530 |
| SIME | 2.840 |
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