Oil and gas stocks gain firm buying interest

Oil and gas stocks gain firm buying interest
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KUALA LUMPUR (April 21): Shares of oil and gas-related stocks gathered firm buying interest, substantiated by the strong rebound in oil prices overnight.

At 9.07am, SapuraKencana Petroleum Bhd rose 2.26% or 4 sen to RM1.81 with 1.14 million shares done, Bumi Armada Bhd added 1.94% or 1.5 sen to 79 sen with 11.65 million shares traded while KNM Group Bhd gained 2.02% or 1 sen to 50.5 sen with 763,700 shares done.

Hong Leong IB Research in its traders brief today had said the market may witness strong trading buy interests in oil and gas stocks.

The research house said it prefered liquid stocks such as Bumi Armada, SapuraKencana Petroleum and KNM Group for trading purposes.