Friday, January 05, 2007

Market Commentary

The bulls and the bears fought evenly for most part of the day with the bears having a slight edge. It was only in the last five minutes that the bulls displayed their resilience and emerged as the winner with a 2.22 points advantage.

The market closed at 1,120.40 with 10,513.105 lots traded. This volume was slightly above average. The trading range was still narrow but had improved with its low at 1,114.54. There were 421 ups, 417 downs and 314 unchanged.

The market is taking a breather and appears to be overbought.

Ranhill and RUBHD have denied about the privatization of RUBHD. This probably pulled down the price of RUBHD. Their denials may turn out to be a blessing in disguise.

It closed at 2.91. Its fundamentals remain intact.

Have a happy weekend.