Monday April 13, 2009.

DAILY MARKET REPORT.

Friday Market Closing Prives.


KLCI 941.38 up 23.
DJIA closed on Friday for holiday.
Crude Oil USD51.69.
May FCPO RM2,430.
Ringgit 3.6135.


Stock Market Outlook.

Continue market rally on hopes of speedy recovery of the banking sector and the economic recovery in the United States and Malaysia.

KLCI resistance level at 960 to 980 level and 1000 level.

KLCI support level at 920, 900 and 860 to 880 level.


Stocks Recommendation.

BUY the following laggard stocks and ACCUMULATE further on any market retracement :-

1. Maybank Bhd RM3.98 and Affin Hldgs Bhd RM1.53 on banking sector laggard and undervalued stocks play.

2. Boustead Holdings Bhd RM3.70 and Kulim (M) Bhd RM5.30 on plantation sector CPO price recovery and undervalued stocks play.

3. UEM land Bhd RM0.815, Zelan Bhd RM0.775 and Ranhill Corp. Bhd RM 0.83 on construction sector economic stimulus and under valued stocks play.

4. Axiata (formerly TMI) Bhd RM1.87 on telco sector laggard and undervalued GLC stock play.


For the latest details write up on the above stocks recommendation, please refer to my 2nd Quarter Year 2009 Malaysian Stock Market Outlook, posted on Thursday April 9, 2009.


For further inquiries please call:-
Kamel bin Mohd Yusoh.
Institutional Dealer.
Kenanga Investment Bank Bhd.
013-6306544 or 03-21634549/50.
April 13, 2009.