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KSi Daily Report: Thursday, 01 December 2016

December started off on a positive note as the Kina Securities main index rose on Thursday’s POMSOX trading session. The Kina Securities Main index was up 20.22 points higher or 0.42% to close at 4,793.06 points. The Kina Securities Home Index KSHi maintained at 10,635.11 points.

Oil Search Ltd (OSH) attributed to the positive movement of the main index as the stock edged up 20toea to close at K17.30.

Bank South Pacific Ltd (BSP) was the only other stock traded unchanged at K9.00 flat.

The day’s trading transacted a substantial volume of 48,227 shares worth K829,280.70.

In off-shore markets, U.S stocks finished up as the Dow Jones Industrial Average edged up 1.98% to close high at 19,123.58 points. Japan’s Nikkei ended at its highest led by mining stocks after OPEC agreed to cut crude output with a weak yen lifted overall sentiment. The Nikkei share average gained 204.64 points or 1.12% to 18,513.12 points. The Australian stock market advanced as investors cheered a deal by OPEC to cut oil production for the first time in eight years with energy stocks as the leading gainers. The benchmark S&P/ASX 200 added 23.10 points or 0.42% to 5,480.70 points.

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