M+ Online Market Wrap – 1 Apr 16
FBM KLCI: 1,710.55 pts (-7.03 pts, -0.41%).
The FBM KLCI closed on a lower note as profit taking activities emerged below the EMA9 level on the back of selling pressure among banking heavyweights. Further consolidation might be expected towards the support of 1,700 over the near term.
Companies in the news:
1) Airasia (5099) to raise gross proceed of RM1 bln from share sale by issuing 559mln shares at RM1.84 per share. Fernandes, Kamarudin would up their stake in AirAsia to 32.4% from 18.9% after new subscription. (Bloomberg)
Top 3 Active stocks:
AAX (5238): RM0.28 (-1 sen)
VIVICOM (0069): RM0.28 (+1 sen)
EKA (7182): RM0.13 (unch)
Volume: 1.49 bln (3-month avg vol: 1.81 bln)
Value: RM1.73 bln
Market Breadth: ⬆:301, ⬇:488
Crude palm oil: RM2,744 (+RM19)
Dow Futures: 17,569 pts (-26 pts)
Source: Bloomberg, M+ Online
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