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KSi Daily Report: Friday, 7 March 2014

Both Kina Securities stock indices closed the week on a negative note. The main index of KSi fell 1.62 points or 0.04% to 3,611.13 points. Likewise, the home index dropped 28.03 points or 0.78% at 7,996.56 points, below the 8,000 mark.

Trading was modestly active recording two losses verses nil gains.

Bank South Pacific Ltd (BSP) declined by 5 toea to close at K7.75, having traded at K7.70 in earlier session, while City Pharmacy Ltd (CPL) retreated 1 toea at to K1.96. Both key stocks are attributed to the poor performance of both indices today.

Stocks that traded but remained unmoved were New Britain Palm Oil Limited (NBO) at K14.50 while Oil Search Ltd (OSH) maintained a strong hold at K17.55.

Friday’s POMSoX registered a total volume of 125,679 shares valued at K621,245.25.

U.S. stocks finished generally higher in overnight trading after report if better-than-expected weekly job data with the Dow Jones Industrial Average closing 61.71 points, or 0.4%, higher at 16,421.89 points. Japan’s Nikkei share average rose 139.32 points or 0.92% to 15,307.07 points on Friday as a weak yen lifted risk appetite following Wall Street’s gains and the European Central Bank’s decision to keep its rates unmoved. The Australian sharemarket is slightly higher, led by resources stocks on a quiet trading day. By close on Friday the benchmark S&P/ASX200 index had lifted 12.60 points, or 0.23%, to 5,459.5 points.

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