Friday 29 Mar 2024
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KUALA LUMPUR (Jan 26): Dialog Group Bhd's rebounded in early trade after yesterday's steep fall.

The oil and gas (O&G) service counter rose four sen or 1.32% at the opening bell today, then surged to its intraday high so far of RM3.11, up eight sen or 2.64% as at 9.30am. The stock had seen 1.41 million shares exchange hands. At the current price, Dialog was valued at RM17.5 billion.

Yesterday, the stock fell 23 sen or 7.06% to close at RM3.03 from last Friday's close at RM3.26.

Bursa’s Energy Index, which tracks share prices of O&G-related companies, also rebounded and rose as much as 1.8% so far to 818.91 points in morning trade. Yesterday, the index fell 3.6% to 804.4 points from 834.07 points last Friday.

Reuters reported that oil prices rose about 1% yesterday as optimism around US stimulus plans and some supply concerns boosted futures, but demand worries prompted by coronavirus lockdowns limited gains.

“Brent crude futures rose 47 cents or 0.9% to settle at US$55.88 (RM225.98) a barrel. US West Texas Intermediate (WTI) crude ended 50 cents or 1% higher at US$52.77 a barrel,” the report said.

Edited ByKang Siew Li
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