KSi Daily Report: Monday, 17 March 2014

POMSoX stocks opened the week on an active note, with both Kina Securities indices closing in positive territory. The Main index was up by 38.86 points or 1.08% at 3,652.76 points. Likewise the home index or KSHi collected 37.56 points or 1.04% at 8,034.12 points.

Four out of six stocks that traded gained grounds with no losses recorded for today.

Oil Search Ltd (OSH) led the winners in terms of trading value as the stock made impressive gain of 41 toea to K18.00. Credit Corporation Ltd (CCP) took in 10t to K2.70 after company had announced its new share buyback at K2. 70 per share today. City Pharmacy Ltd (CPL) gained a toea at K1.95 and Marengo mining Ltd (MMC) added a toea at 15 toea.

Stocks traded flat at the close were Bank south Pacific Ltd (BSP) at K7.75 and Newcrest mining Ltd (NCM) at K25.00.

In today’s announcements, Bank South Pacific (BSP) reported an operating profit including extraordinary items after tax of K436.8m in 2013, up 7.13% . Kina Asset Management (KAM) said its net profit after tax was K8.1m in 2013, increase of 18% from 2012.

Monday’s POMSoX session registered a considerable volume of 267,064 shares with a monetary value of K649,503.10.

In the overseas market, U.S stocks suffered on Friday as the Dow Jones Industrial Average shed 43.22 points, 0.27% ending at 16,065.67 points. Asian stocks dropped as western nations disputed Crimea’s weekend vote to rejoin Russia. Japan’s Nikkei share average hovered on choppy trades on the down side by 50 points, 0.35% closing the market at 14,278 points. Australian share market followed the New York’s week close with the S&P/ASX 200 slicing 11.83 points or 0.22% to 5,317.57 points at the close.

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