KUALA LUMPUR: Tenaga Nasional powered the FBM KLCI higher at the midday break on Tuesday, April 6 after analysts upgraded the stock ahead of its earnings while the broader was mixed with profit taking setting in.

Tenaga rose 28 sen to RM8.38, pushing the FBM KLCI up by 2.91 points at midday. The FBM KLCI rose 2.81 points to 1,344.56. Turnover was 612.11 million shares valued at RM736.73 million. There were 329 gainers, 315 losers and 272 stocks unchanged.

Among key regional markets, Japan's Nikkei 225 fell 0.7% to 11,260.32, Shanghai's Composite Index slipped 0.06% to 3,156,21 but Singapore's Straits Times Index added 0.23% to 2,975.13.

Light crude oil slipped 26 cents to US$86.36, US spot gold fell US$4.05 to US$1,127.85 and crude palm oil futures fell RM22 to RM2,500, the lowest since Feb 4.

The ringgit was trading at 3.2115 versus the US dollar at midday.

AmResearch reiterated its BUY call on Tenaga with a higher fair value of RM10.00/share. We expect Tenaga's 2QFY10 results, which will be announced on 29 April 2010, to be stronger than expected due to a sharp rebound in electricity demand growth while coal costs remain under control.

Tanjong added 14 sen to RM19.10 while YTL added six sen to RM7.61 and YTL Power two sen to RM2.25.

Genting Bhd added three sen to RM6.57 while among banks, RHB Cap added eight sen to RM5.85, AMMB two sen to RM5.05 and Maybank one sen to RM7.51.

Among property stocks, SunCity added 18 sen to RM3.68 and Sunrise 12 sen to RM2.32.

Petra Perdana posted its biggest gains in recent months, adding 16 sen to RM1.76 and Petra Energy 15 sen to RM1.64. Permodalan Nasional Bhd upped its stake in Petra Perdana with the acquisition of 7.025 million shares on March 30.

KNM was the most active with 30.14 million shares done, adding 2.5 sen to 75.5 sen.

The decliners were a mixed bag, with Pos Malaysia shares taking a pause after the recent rally. UMCCA fell 15 sen to RM8.10, KKB 13 sen to RM6.31, Pos 10 sen to RM2.83 and UEMLand-OR 9.5 sen lower at 62.5 sen.