FBMKLCI
1706.54pts +14.34pts
(+0.85%) Volume 2.462b Value RM 2.840b
1) The KLCI surged to a day high of 1717 (+26pts) to
close 14pts higher, firmly above the 1700-level, following the recovery in oil
prices and MYR strengthening to a 3 month high. Region was positive led by STI
+1.75%, NIKKEI +1.64%, SHCOMP +1.28%, HSI 0.46% fueled by dovish signals from
the FED. Broad market remained in the green led by CONSTRUCTION +1.91% boosted
by GAMUDA +2.86%, IJM +1.82%, MITRA 7.41% and O&G stocks strengthening led
by DAYANG +5.81%, COASTAL +5.37%, BARAKAH +5.16% amongst the top gainers.
Market breadth was positive with gainers outpacing losers 567 : 305. Market
futures close 1701 (6pts discount).
2) Heavyweights : TENAGA +1.79% RM12.50, AXIATA +2.74%
RM6.38, MAYBANK +0.94% RM8.60, PCHEM +2.19% RM6.54, IOICORP +2.30% RM4.40,
GENTING +1.83% RM7.81, SKPETRO +3.29% RM2.20, CIMB +0.81% RM4.96.
3) DBT : BJCORP 100.265mil @ RM0.16 (17.2% PUC @ 21.95%
discount), BARAKAH 6.317mil (2.0% discount), PERWAJA 4.0mil @ RM0.12 (16.7%
discount).
4) Situational:-
DAYA +9.52% RM0.115 - Daya Materials Bhd's 67.0%-owned
subsidiary Daya OCI Sdn Bhd has been awarded a EUR17.7m (RM84.3m) subcontract
from Axima Concept SA of France. The provider of engineering and shipping
services said the subcontract was for the provision of marine heating,
ventilation and air-conditioning (HVAC) equipment and services. The award of
the subcontract terminated and superseded a consortium agreement signed between
DOCI and Axima on April 18, 2013.
5) MITRA
Mitra announce that its wholly owned subsidiary,
Pembinaan Mitrajaya Sdn Bhd accepted
from ECERDC, the award for the proposed construction and completion of main
infrastructure works at Pahang Technology Park in Gambang, Pahang Darul Makmur
for the ECERDC Package 1B - 1st Level Infraworks i.e. Anterial Road, Drainage,
Sewerage, Water Supply System, External Electrical, External Telecommunication
and Landscaping for Lot No. 49652 for a contract sum of RM52.2m.
The Contract is for duration of 78 weeks and is expected
to be completed by 18 April 2017.
The group's current outstanding orderbook of RM1.75b
should be sustained by the implementation of affordable housing by private
developers. Hold
6) Market - The current rally has improved sentiment and
increased investors appetite back into the beaten down O&G sector, we still
find value particularly in Dayang, Barakah, Coastal for a rebound play.