KLSE Hits 2.08bn Shares On Euphoria Buying 24 April 2009

The market continued to attract heavy trading interest, especially in counters like KNM, SAAG and Ramunia, sending the total volume to 2.08 billion units on April 24, the highest since October 2007.
The KLCI closed 14.04 points higher at 992.68. Turnover surged to 2.08 billion units valued at RM1.66 billion. The broader market was also positive, with advancing counters beating decliners 594 to 139 and 185 stocks unchanged.

Oil and gas related counters rose in very active trade, with KNM up 1.5 sen to 57.5 sen with 127.39 million shares done. SAAG added 4.5 sen to 28 sen. Ramunia attracted heavy trading interest despite the lack of the any positive news. Ramunia jumped 15.5 sen to 53.5 sen with 105 million shares done, Ramunia-PA 17.5 sen to 49 sen and Ramunia-WA 11 sen higher to 27.5 sen.

Companies which had interests in Iskandar Malaysia rose in active trade, Mulpha rose six sen to 44.5 sen, UEM Land two sen to RM1.03 and Tebrau Teguh three sen tPlantation stocks continued to dominate the gainers list. Crude palm oil (CPO) futures extended its gains, rising RM53 to RM2,633 for third-month delivery.

CBIP, which makes the mills for the plantations, rose 28 sen to RM2.46. KL Kepong and heavyweight Sime Darby 20 sen higher to RM11.50 and RM6.65.

BAT fell 25 sen to RM44.75 but off the day’s low after research houses reducing their rating on the country’s largest cigarette manufacturer.
Tanjong fell 20 sen to RM14.10, KrisAssets 17 sen to RM2.63 while Hwa Tai fell 15.5 sen to 47 sen.