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KSi Daily Report: Friday, 21 March 2014

Both Kina Securities Index ended the week on a negative note moving lower caused by a home listed-stock. The main index or KSi declined 5.79 points, 0.16% to 3,612.67 points. Similarly, the KSHi fell by 85.27 points or 2.36% to 7,944.82 points at the close.

Friday’s trading session registered two losses versus none that changed.

Leading oil and gas company Oil Search Ltd (OSH) finished a toea lower to K17.61 followed by agricultural stock New Britain Palm Oil Ltd (NBO) at K14.00, down 50 toea.

Stocks that traded unchanged were led by NGIP Agmark Ltd (NGP) in terms of volume, traded at 80 toea fixed. Meanwhile, City Pharmacy Ltd (CPL) and Bank South Pacific Ltd (BSP) closed unchanged at K1.95 and K7.75 respectively.

The day’s trade registered a total volume of 8,588 shares valued at K23,935.94.

In the overseas market, U.S stocks reversed post-Fed losses and finished with modest gains showing rebound in manufacturing, boosting confidence. Dow Jones Industrial Average rose by 108.88 points or 0.67%, ending at 16,331.05 points at the close. Asian stocks with regional index of shares outside Japan rebounded from the biggest loss in seven months. Japanese Nikkei share average fell by 238 points, 1.65% closing the week at 14,224 points. Australian S&P/ASX 200 closed 44.08 points, or 0.83% higher ending the market at 5,338.08.

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