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KSi Daily Report: Wednesday, 10 February 2016

Kina securities Main Index relinquished previous gains on POMSoX Wednesday after a sell down in key Oil and gas stock. The Main Index or KSi dropped 81.96 points (-2.39%) at 3,349.19 points however the home index or KSHi was unmoved at 9,359.99 points at the close.

One stock fell with no other movements.

Dual-listed stock Oil Search Ltd (OSH) attributed to the negative movement of the main index after declining 79 toea at K14.01 following a fall on the ASX and weaker world oil prices which yet again fell below $30 a barrel.

Bank South Pacific Ltd (BSP) also recorded a few trades for today’s session however remained unchanged at K7.50.

Wednesday’s session recorded a combined volume of 20,950 shares with a monetary value of K58,830.51.

U.S. stocks finished the overnight volatile session little changed as a rally in materials was offset by losses in the energy sector fueled by a fresh drop in oil prices amid a global stock selloff. Dow Jones Industrial Average closed off 12.67 points or 0.08% lower at 16,014. 38 points. Japan’s Nikkei share average slumped 408.58 points or 2.45% at 15,676.86 points as worries about the health of global banks persisted. The Australian benchmark S&P/ASX200 index was 56.4 points, or 1.17% at 4,775.70 points.

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