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KSi Daily Report: Monday, 20 October 2014

Monday’s POMSOX trading was modest with the Kina Securities main index heading lower while the home index stayed. The KSi dropped 244.39 points or 6.04% to 3,804.66 points, while the KSHi remained at 9,052.46 points.

There were 14 trades registered as one stock fell.

Oil Search Ltd (OSH) was fell K2.78 to end at K19.22.

A Junior cap miner Marengo Mining Ltd (MMC) and bank stock Bank South Pacific Ltd (BSP) traded at 8 toea and K7.14 respectively. Meanwhile agricultural stock New Britain Palm Oil Ltd (NBO) was steady at K23.00 flat.

Total shares recorded were 15,759 units valued at K45,390.84.

U.S stocks rallied on Friday on the back of positive earnings and data as positive comments from central bank officials boosted investor sentiment. The Dow Jones Industrial Average recovered 263.17 points or 1.63% to 16,380.41 points. The Nikkei share average surged, up 579 points or 3.98% to 15,111 points as Japanese stocks soared on U.S data as the weaker yen lifted exporter stocks. Australian share market closed solidly higher after international markets returned to positive territory following heavy losses earlier last week. The benchmark index S&P/ASX 200 added 47.72 points or 0.91% to 5,319.44 points today.

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