Both Kina Securities stock indices managed to close higher despite some stocks turned weaker on POMSoX Monday. The main index KSi inched up 0.42 points (+0.01%) at 3,763.06 points likewise, the home index or KSHi climbed 25.21 points (+0.30%) at 8,411.55 points at the close of market.
One stock had gained against two stocks that lost
Bank South Pacific Ltd (BSP) was up 5 toea at K7.40 supported by the company share buyback program. The positive movement had aided both indices closing in green.
On the down side City Pharmacy Ltd (CPL) was lower by a toea at K1.74, followed by Highlands Pacific Ltd (HIG), that dropped 2 toea at 15 toea.
Stocks traded however remained unchanged were Kina Asset Management Ltd (KAM) and Credit Corporation Ltd (CCP) at K1.07 and K2.70 respectively and Oil Search Ltd (OSH) at K19.16 flat.
BSP Unsecured notes (BSPHA) traded at K25,000.00 even. The debenture stock traded a total of 9 shares valued at K225,000.00
The day’s session recorded a total of 31,941 units valued at K247,198.07.
US Stocks took continues the bearish tone as a raft of economic data sparked fears the Federal Reserve could speed up its timetable for raising interest rates. The Dow Jones Industrial Average fell 69.93 points or 0.42% at 16,493.37 points on Friday. Likewise, Japanese stocks edged down on Monday, with financials and sea transporters leading the losses, as a sell-off in U.S. stocks amid concerns over Argentina’s default and Portuguese banking problems dampened risk appetite. The benchmark Nikkei extended losses for a third straight trading day, shedding 48.61 points or 0.31% to end at 15,474.50 points. The Australian shares followed the downward trend despite largely recovering from a marked dip early in the session. By close of market Monday, the benchmark S&P/ASX200 index was 13 points, or 0.23% lower at 5,543.40 points.