Efficient erases gains after saying not aware of share price, volume rise reasons

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KUALA LUMPUR (Sept 04): Efficient E-Solutions Bhd erased earlier gains for a 1.64% drop, after the business process outsourcing specialist said it was not aware of reasons behind the recent increase in its share price and volume.

Shares of Efficient, which had earlier peaked at 31 sen, fell 0.5 sen to 30 sen at 3.38pm. Some 33 million shares were traded.
 
According to Kenanga Investment Bank Bhd's note today, the immediate technical support and resistance for Efficient's share price were seen at 28 sen and 32 sen respectively.

Dealers said Efficient's share price performance was in line with the recent renewed interest in IT-based companies like IFCA MSC Bhd, Censof Holding Holdings Bhd and GHL System Bhd.