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KSi Daily Report: Monday, 08 February 2016

POMSoX trading opened the week on a mixed note as stocks headed in opposite directions today. The Kina Securities index or KSi was up by 104.27 points or 3.11% at 3,459.98 points however, the home index or KSHi was lower by 42.59 points or 0.46% at 9,297.07 points.

Two stock gained against a loss.

Oil Search Ltd (OSH) collected 74 toea at K14.80 , the dual listed oil and gas producing stock rose following a strong performance on the ASX Market. Credit Corporation Ltd (CCP) also closed higher recouping a toea at K2.05 today.

While on the down side Bank South Pacific Ltd (BSP) closed 5 toea lower at K7.45.

City pharmacy Ltd (CPL) was the only stock unchanged for Todays’ session, the sole listed pharmaceutical stock remained at K1.31 flat

Monday’s session recorded a low volume of 9,273 shares valued at K75,501.40.

In overseas news, U.S. stocks sold off on Friday to end the week with steep losses after two straight weeks of gains. The Dow Jones Industrial Average dropped 211.82 points, or 1.3%, to 16,204.83 points after investors struggled with a jobs report that had a weak headline number, but sharp improvements in wage growth and participation rate. Japan’s Nikkei share average rebounded on Monday, crawling back from an early two-week low as a weak yen offset concerns about weak Japanese companies’ earnings and slumping U.S. stocks. The Nikkei was up 184.71 points or 1.10% at 17,004.30 points by close of market. Meanwhile, The Australian share market closed broadly flat as falls across the banking sector were offset by gains in resource companies. The benchmark S&P/ASX200 index was down 0.8 points, or 0.02% at 4,975.40 points.

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