Market's Momentum Fizzles
May 04, 2011
The 30-share Straits Times Industrials Index rose 7.13 to 2162.73. Market volume totaled 74.7 million units valued at 242.1 million Singapore dollars. A total of 69 stocks closed higher, 252 lower, and 228 unchanged. The biggest loser Thursday was telecom equipment supplier Transmarco, which fell 45 Singapore cents to S$9.50 on 1.8 million shares traded. Dealers said the fall was mainly due to profit-taking after the share rose from last week's low of around S$3.70 to Wednesday's high of S$11.60. However, other closely followed market indexes fell. The DBS-50 Index, which is capitalization-weighted with shares from all sectors, fell 2.99 to 552.69. The UOB-OTC index, which tracks Malaysian over-the-counter shares, closed at 1180.67, down 5.45 points.
