First Green Session Of The Week On Consumer Stock Gains
KUALA LUMPUR, July 24 (Bernama) -- The consumer sector appears to be regaining its bullish momentum with notable names such as 99 SpeedMart, AEON, EcoShop, and Farm Fresh posting strong gains, which has resulted in the Kuala Lumpur Composite Index (KLCI) recording its first green session for the week.
Maybank Investment Bank Bhd said the performance of the KLCI was supported by improved sentiment following Prime Minister Anwar Ibrahim’s announcement yesterday morning, which included the Sumbangan Asas Rahmah (SARA) as well as RON95 petrol price reduced to RM1.99 per litre.
“Technically, we expect the benchmark index to range between 1,510 and 1,530 points today, with support remaining at 1,500 and 1,440 points,” it said in a research note.
The composite index closed at an intra-day high of 1,529.79 yesterday. The momentum extended this morning, opening 1.48 points higher at 1,531.27.
At 10.10 am, 99 SpeedMart shares rose one sen to RM2.35, with 1.14 million shares traded. AEON, EcoShop and Farm Fresh were all flat at RM1.40, RM1.35 and RM1.83, respectively.
-- BERNAMA