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KSi Daily Report: Monday, 31 March 2014

Both Kina Securities stock indices gained on the last trading day of March amid modest trading session. The Kina Securities Main index or KSi added 1.49 points (+0.04%) to 3,617.35 and the Home index or KSHi collected 10.64 points (+0.29%) at 7,971.44 today.

Monday’s session registered two gains with none stock that fell.

Bank South Pacific Ltd (BSP), the largest banking and financial stock in terms of market capitalisation in PNG, added 2 toea to K7.80, followed by another large cap stock, Oil Search Ltd (OSH) at K17.64, up a toea . The increase has helped both indices to recover previous session’s losses on a positive note.

Stocks that trade unchanged for the session were Credit Corporation Ltd (CCP) and Marengo Mining Ltd (MMC) completing at K2.70 and 14toea respectively.

The day’s trading recorded a low volume of 13,842 shares with a monetary value of K37,398.94.

In markets abroad, U.S stocks extended gains Friday as employment reports are expected to bigger gains with the economy improving. The Dow Jones Industrial Average is 58.83 points, or 0.36% higher ending at 16,323.06. Asian stocks rose for the fourth day as consumer shares led advances. Japan’s Nikkei share average closed higher by 132 points or 0.90% to 14,828 shares. In Australia, the benchmark S&P/ASX 200 index was up 27.93 points, 0.52% to close higher at 5,394.80 points towards a possible stimulation package from China.

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