Research

TMT stood at Rs79M with local indices retreating further: ALEX-20 (-0.3%), ALCAPEX-12 (-0.4%) and SEMDEX (-0.3%) due to the several stocks closing in the red.

 

MCB [30%] recouped the eve’s 25-cent drop back to Rs275 boosted in part by net foreign purchases of Rs3M while SBM declined to Rs7.30 (-1.3%).MEI bounced back to Rs96.00 (+1.1%) on low vol. in the wake of the announced sale of MELCO in which MEI holds a minority stake. MELCO's majority shareholder, IBL closed at its Ex-Div Ref Price of Rs49.35.

 

Companies extending their slide include: MK (-4.0%) to 2Yr-Low having published lower profits, an Ex-Div ASCE (-0.9%) to 5Mth-Low , CIEL (-0.9%) to 14Mth-Low on 490k shares, and PAD (-1.7%) to13Mth-Low on an above average 75k shares. 

 

GAMMA (-0.8%) and its subsidiary LOTO (-0.7%) recorded drops. However, after market close, in an official communique LOTO confirmed a positive and satisfactory outcome from mediation court resulting in its license being renewed , a 2nd weekly draw , as well as the running of 'Loterie Verte' .