Bursa on the Roll


Well this is the second day of gains for the Bursa. It is also the third day of gains this week; counting in Monday which brought back 51 points to the CI. It is certainly on a roll now that the sub-prime roil has been contained somewhat. CI moved to 1233.62 up another confident-boosting 28.23 points. Gainers conked out losers 771 to 173. Volume moved up to 2.4 billion shares worth RM2.57 billion. Market has reach a good breadth.

Gainers were IOIProp which took in a hefty RM1.10; Bursa which chalked up 65 sen while Commerce wrestled back 50 sen. Meanwhile, BAT added 25 sen. Losers lost little. CIMA lost 15 sen;Delloyd 11 sen and Mamee 10 sen.

The portolio was good as JAKS leaped forward to 92.5 sen adding 8.5 sen. I believe they won the court case against PUAS and SPLASH. If they did, then our courts are above politics and respect the sanctity of contracts. BJ Sports Toto, as expected jumped back to the RM5.00 level, adding 18 sen. Resorts moved steadily to RM3.80 and I foresee a big bang in a matter of days if Dow is good. Strangely Genting was unchanged at RM9.25. A great buy if you have cash. RCE went up to 80.5 sen adding 2 sen. Metronic was half a sen better at 16.5 sen. Welli, in spite of good volume stayed at its overnight level of RM1.02.

I believe Bursa will rest tomorrow. So CI will move up marginally as profit takers take down the speculative stocks and second liners. It may also go red if Dow goes down tonight.

Heartsong