Friday, December 9, 2011

Gamuda dips on being removed from KLCI

KUALA LUMPUR (Dec 9): GAMUDA BHD [], which would be leaving the FBM KLCI index following the semi-annual review of the FTSE Bursa Malaysia Index Series on Thursday, declined in late morning trade on Friday.

The decline in Gamuda's shares was also in line with the weaker broader market.

At 11.56am, Gamuda fell 17 sen to RM3.11 with 915,500 shares traded.

OSK Research in a note Dec 9 said the removal of Gamuda from the FBM KLCI removed the CONSTRUCTION [] sector representation.

FTSE Group (FTSE) and BURSA MALAYSIA BHD [] yesterday said the constituent changes take effect at the start of business on Dec 19,''2011 and the next review will take place on June 7, 2012.

The FBM KLCI lost 1.02% or 15.08 points to 1,457.84.

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