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KSi Daily Report: Monday 07th April, 2014

Both Kina Securities Indices opened the week on a positive note amid modest trading on POMSoX. The Kina Securities Market index, or KSi, closed at 3,629.78 points, by 1.41 points or 0.04% today. Likewise, the Kina Securities Home Index or KSHi gained 9.23 points, or 0.25% to 8,141.61 points.

Today’s trade registered one loss against a winner while three other stocks traded unchanged.

The sole winner for the day Oil Search Ltd (OSH) a leader in oil and gas business in PNG closed at K17.67, adding a toea.

A leading pharmaceutical company and cum retail supermarket, City Pharmacy Ltd (CPL) was the only stock that traded on a loss at K1.94, shedding a toea.

The unchanged was led by junior cap miner Marengo Mining Ltd (MMC) in terms of trading volume at 14 toea. Meanwhile, Kina Asset Management Ltd (KAML) and banking institution Bank South Pacific (BSP) ended at K1.07 and K7.80 respectively.

The session registered share volume of 20,880 units worth of K41,303,72.

In markets abroad, U.S stocks declined on mixed signals in the government’s monthly jobs report gave investors little direction Friday. At 6.7 percent, the unemployment rate painted as mixed to the economy. The Dow Jones Industrial Average fell 159.84 points, 0.96% to close at 16,412.71 points. Asian stocks fell the first time after securing the longest winning streak on the regional gauge this year. Japan’s Nikkei share average dropped 146.41 points, or 0.17% to end at 5,413.70 points. Australian market followed weak lead from Wall Street with the S&P/ASX 200 benchmark index at 5,413.70 points, or 9.13 points lower today.

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