TODAY IS SPPOKY DAY FOR KLCI MARKET TRADERS

Weekly wrap of KLCI
The week saw some action as compared to the preceding weeks with the majority of action confined to the middle three days and again the weekly closing was bearish. The highest level during the high action days was 1652 and the lowest level was 1614. The KLCI ended the week on a negative note, closed lower at 1628.26 points amid overnight mixed performance in Wall Street. The performance of KLCI was restricted owing to the selling interest in heavy weights counters.

MARKET FORECAST FOR WEEK AHEAD
The KlCI index in the coming week is expected to trade higher, on account of traders resuming their trading activities based on the trading action they saw during the week. However, we reserve our bullish expectations above the level of 1645 for the weekly opening. The market is expected to be sluggish on Monday due to traders waiting to see how the market performs due to past performance on weekly openings.

KLCI MARKET DAILY NEWS & FORECAST

Market Review for KLCI
The FBM KLCI index gained 8.74 points or 0.53% on Wednesday. The Finance Index increased 0.53% to 14604.15 points, the Properties Index up 0.86% to 1166.51 points and the Plantation Index rose 0.20% to 7507.98 points. The market traded within a range of 16.54 points between an intra-day high of 1646.96 and a low of 1630.42 during the session. The KLCI rose to close at 1644.58 points, taking cue from overnight gains in Wall Street. The performance of our local bourse was buoyed by buying interest in heavy weight counters such as YTL Corp and RHB Cap.

Market forecast for KLCI
The KLCI index is expected to trade sideways in coming trading session however if the market will cross the level of 1650 then it can give a positive movement and can reach to the level of 1670 in near term.

KLCI DAIL UPDATES

Market Review for KLCI
The FBM KLCI index lost 17.17 points or 1.04% on Monday. The Finance Index increased 0.18% to 14511 points, the Properties Index up 0.06% to 1166.3 points and the Plantation Index down 0.79% to 7491.44 points. The market traded within a range of 19.42 points between a high of 1651.61 and a low of 1632.19 during the day. The KLCI halted its winning streak last Friday and closed lower at 1632.19 points despite overnight gains in US markets.The day saw a higher opening followed by the market entering into a bearish phase.

Market forecast for KLCI
The FBM KLCI closed lower into the bearish region with the low for the day also being the closing level. Any move above the 1647 level would definitely face friction due to profit covering bringing it down, whereas any move below the Immediate support of 1632 might be met with further bearishness. At the moment, the prolonged bearishness has got the traders in a bargain hunting mode, with profit covering leading to bearishness everytime the bulls attempt a run.

KLCI MARKRT STATUS|DAILY UPDATES

Market Review for KLCI
The FBM KLCI index Slipped12.49 points or 0.75% on Thursday. The Finance Index fell 0.45% to 14380.34 points, the Properties Index dropped 0.17% to 1164.42 points and the Plantation Index down 0.96% to 7548.13 points. The market fluctuated within a range of 11.30 points between an high of 1653.05 and a low of 1641.75 before the market closing. The KLCI failed to close in positive territory and closed lower at 1645.09 points amid overnight losses in US market. Market sentiment was restricted on concern over weakening ringgit despite surge in oil prices

Market forecast for KLCI The FBMKLCI might have closed lower than its opening, however it closed above its closing price from the previous day.For tomorrow, we expect profit covering to be the main reason for any bearishness exhibited tomorrow. Any move below, might go to touch the 1636 level. On the upside, we expect it to reach 1659 level. Any move above 1663 level, might get the traders excited and may be responsible for a large spurt in volume.

KLCI MARKET 3rd DAY OF MONTH

Market Review for KLCI
The FBM KLCI index slipped yet again and lost 21.28 points or 1.27% on Tuesday. The Finance Index fell 1.22% to 14409.32 points, the Properties Index dropped 0.44% to 1167.54 points and the Plantation Index down 1.16% to 7621.09 points. The market traded within a range of 26.24 points moving between a high of 1676.03 and a low of 1649.79. The KLCI continued with its losing streak and closed even lower at 1651.44 points inspite of overnight gains in US market. Market performance remained poor as investors sentiment were weakend by a weaker ringgit

Market forecast for KLCI Against the hopes of traders, the FBMKLCI continued with its fall at the first trading day of the month closing at the depth of 1651 level. Looking at the bearish candle it formed today, it seems the downfall might contiue tomorrow also due to majority of traders standing at the sidelines and looking helplessly as possibility of 1639 being reached turns more into reality. An upward move will look promising only if it closes above the level of 1663.

KLCI AT THE MONTH END

Market Review for KLCIThe FBM KLCI index fell 17.58 points or 1.04% on Thursday. The Finance Index fell 0.31% to 14636.28 points, the Properties Index dropped 0.08% to 1170.86 points and the Plantation Index rose 0.13% to 7712.9 points. The market traded within a range of 24.52 points fluctusting between a high of 1695.73 and a low of 1671.21 during the trading session. The KLCI continued with its negative streak and closed lower at 1674.76 points inspite of overnight mixed performance in Wall Street after the Federal Reserve signalled it was in no hurry to change policy.

Market forecast for KLCI
Going against the hopeful expectations of majority of Traders, the FBM KLCI continued with its steep fall for a consecutive third day; resulting in filling of a previously existing gap at the level of 1673 level. With the major economic events of Central bank meetings of US and Japan over; the only negative factor to restrict an upward movement is the usual position closing on the last trading day by cautious traders whose fears have now risen to the level of hysteria. With the market closed on Monday due to workers day;we can expect the cool off period to help initiate an upward move which if reaches the 1686 level should provide enough motivation to crank-up the market

KLCI MARKET TODAY

Market Review for KLCI
The FBM KLCI index slipped 2.24 points or 0.13% on Wednesday. The Finance Index increased 0.05% to 14844.54 points, the Properties Index up 0.29% to 1187.1 points and the Plantation Index down 0.33% to 7729.64 points. The market traded within a range of 10.73 points fluctuating between a high of 1715.43 and a low of 1704.70 during the session. The KLCI continued its losing streak for the third consecutive day after closing lower at 1708.91 points amid mixed performance in US market. Market sentiments were negative as investors were cautious on absence of fresh positive leads.

Market forecast for KLCI
The klci index is expected to test the level of 1710 in coming trading session however the bearish market sentiments can push the price down and after testing the resistance at 1710; it is expected to reach to the level of 1700 in near session.