Good Day for Gamblers

Market shrugged off any overseas influence to trade marginally lower at the opening bell. It closed down 0.37 points to 1381.99. Volume was low as we move into the midst of the witching hour. Some 6 million shares changed hands. Value was 827 million ringgits. Losers beat gainers at 426 to 352. About half a million shares traded were Resorts World and Resorts-CB.

Gainers included BSDProp, UMW, Tongher and DIGI while losers were IOIProp, Lion Diversified, SunCity and Tanjong. Mostly property stocks.

Except for Resorts and Genting, most portfolio stocks receded into negative territory. Welli took top spot by bungee jumping another 6 sen to RM1.30. JAKS slided 2 sen to 83 sen while RCE lost 3 sen to RM1.03. Staying at their overnight levels were KPS, BJ Sports Toto, AMDB and Metronics. Taliworks lost 5 sen to RM2.11.

Meanwhile, Resorts World added 22 sen to RM4.44 while Genting added 25 sen after falling the last 5 trading days on suspected price suppression.

The market appears to be resilient at this unearthly hour. If it can pace itself through the next hour, it should solidify a base for an afternoon run to put the CI in positive territory.

Heartsong