KLCI Records High Gaining Streak, Ends on Profit Taking

For four days in a row, KLCI has surged to its record high for this year but had a sudden plunged on the fifth day due to profit taking.



The surge started on Friday last week following the decision made by Organization of the Petroleum Exporting Countries (OPEC) to continue the supply cut off in April. Making investor once again interested with the Oil and Gas industry.


Furthermore, the leap continues for three days in a row following the increase in stock prices of Telco companies and Petronas-linked companies.


On the fifth day, the gaining streak fell following the decrease in stocks that also brought KLCI to its record high.


This is due to investors that decided to take profit after four days of the gaining streak.



Two Petronas-linked stocks, PETRONAS Dagang Bhd and PETRONAS Gas Bhd, has been listed as the top losers during a session on March 11.


DiGi.Com Bhd may not be listed among the top 10 losers for the session, but is still one of the companies that broke KLCI gaining streak.