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KSi Daily Report: Friday, 31 October 2014

The last business day of POMSOX trades on October saw big gains for both Kina Securities indices attributed to a home-listed stock that rose. The main index KSi added 87.28 points or 2.32% to 3,849.18 points and likewise, the home index KSHi surged 682.13 points or 7.41% to 9,893.07 points.

There were four stocks that traded today as one stock gained.

Agricultural stock New Britain Palm Oil Ltd (NBO) was the contributor to the jump of the indices. The stock closed K4.00 higher at K28.00, leading the session to end high.

Meanwhile, stocks that traded unchanged included exploration stock Marengo Mining Ltd (MMC) at 7 toea. A financial stock Bank South Pacific Ltd (BSP) and Oil Search Ltd (OSH) ended at K7.12 and K19.22 flat respectively.

Today’s shares registered a substantial volume of 105,061 units valued at K33,175.73.

In overnight trading, U.S stocks valuted higher dragging the other major U.S benchmarks higher as well boosted by a big rise in upbeat GDP data. The Dow Jones Industrial Average surged 221.11 points or 1.30% to 17,195.42 points. Asian stocks rose extending a weekly gain with the Nikkei advancing 756 points or 4.83% to 16,414 points closing at its highest since 2007 as BOJ unexpectedly eases monetary steps to stoke inflation. Australian shares also strengthened, following leads from Wall Street as S&P/ASX 200 index collected 50.40 points or 5,526.60 points.

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