SapuraKencana drives KLCI higher in early trade

KUALA LUMPUR: Rising interest in the oil and gas (O&G) sector saw
SapuraKencana Petroleum emerging as among the top gainers in early
Monday trade, driving the FBM KLCI higher.
At 9.32am, the KLCI
was up 2.95 points to 1,772.11. Turnover was 416.07 million shares
valued at RM227.51mil. Advancing counters beat decliners 452 to 92 while
190 counters were unchanged.
JF Apex Research
said the after the KLCI took a breather following the recent spike
following the outcome of the 13th General Election, "we expect the index
to consolidate before climbing and re-testing the resistance of 1,800,"
it said. SKPetro rose 15 sen to RM2.70 and smaller O&G player Deleum added 13 sen to RM3.48.
Consumer stocks regained their momentum on Monday, with GAB adding 58 sen to RM21, Nestle 50 sen to RM65.50 and Dutch Lady 22 sen to RM47.98 with 100 shares done.
Among the insurers, Allianz gained 25 sen to RM9.75 and MNRB 22 sen to RM3.62.
IGB and Time dotCom rose 15 sen each to RM2.70 and RM4.50.
Genting Plantations fell 25 sen to RM8.80 with 100 shares done while among the banks, HLBank and AmBank fell 10 sen each to RM14.20 and RM7.14.
Petrol One which will be suspended from Wednesday until further notice, fell six sen to eight sen.