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KSi Daily report: Friday, 15 August 2014

POMSoX trading was active with both Kina Securities Indices recouping their losses from yesterday. The Main Index KSi was up by 4.80 points (0.13%) at 3,762.73 points and likewise the home index KSHi added 37.73 points and stayed back up at 8,434.10 points.

The day’s trading session recorded three gains versus nil loss.

Credit Corporation Ltd (CCP) regained 10 toea to K2.70 supported by the ongoing share buyback plan to lead the gainers. Oil Search Ltd (OSH) the dual-listed oil and gas company collected 3 toea to complete strong at K19.15 backed by improving prices on ASX. Kina Asset management Ltd (KAM) followed the upward trend at K1.10 collecting 3 toea amid thin trading volumes.

Meanwhile unmoved stocks for the session were Bank South Pacific Ltd (BSP) at K7.45 and City Pharmacy Ltd (CPL) at K1.70 even. New Britain Palm Oil Ltd (NBO) and Kina Petroleum Ltd (KPL) were steady at K18.00 and 90 toea respectively. Marengo (MMC) remained at 8 toea.

Thursday’s POMSOX session had registered a sizable volume of 133,817 units with a monetary value of K108,147.25.

In overseas news, the U.S. stock market closed with modest gains after its overnight session led by advances in the health-care and technology sectors. The major indices have gained in the three of the past four sessions, with the Dow Jones Industrial Average adding 91.26 points, or 0.6%, to 16,651.80 points. Japanese shares rose on Thursday, buoyed by gains on Wall Street shares and on anticipation that Japanese public pension funds and other public accounts will step up buying to shore up the market. The Nikkei share average rose 100.94 or 0.66% at 15,314.57 points, extending a three-day rally amid low trading volumes. Likewise, The Australian market is higher across most sectors as investors react to a flurry of positive company results. The gains also came after a strong finish on Wall Street. By close of market today, the S&P/ASX200 index was up 33.80 points, or 0.61%, at 5,540.50 points.

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