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KSi Daily Report: Thursday, 08 January 2015

POMSOX trading session was active Thursday and ended with both Kina Securities indices registering losses at the close. The main index KSi dipped 4.65 points or 0.13% to 3,444.77 points. Likewise, the Kina Securities home index KSHi sliced 85.04 points or 0.89% to 9,464.89 points.

There was a single stock that fell registered on POMSOX today against none that gained.

Junior mining cap Marengo Mining Ltd (MMC) and financials Credit Corporation closed flat at 5toea and K2.60 respectively. Followed by Bank South Pacific Ltd (BSP) and portfolio management Kina Asset Management (KAM) at K7.13 and K1.00 respectively. Oil Search Ltd (OSH) ended unchanged at K15.50 while Newcrest Mining Ltd (NCM) was steady at K24.00

Heavy weighted agricultural company in PNG New Britain Palm Oil Ltd (NBO) attributed losses to the indices as the stock closed at K25.50, down by 50toea.

Thursday’s session recorded a total volume of 123,688 share valued at K64,395.48.

U.S stocks rebounded on positive weekly jobs gain Wednesday, highlighted the S&P 500 recording its first gain in 2015 snapping a five-day losing streak. The Dow Jones Industrial Average advanced 212.88 points or 1.23% to 17,584.52 points. Japanese stocks posted the biggest rise in three weeks this afternoon after solid U.S data and rebounding oil price. The Nikkei share average surged 282 points or 1.67% to 17,167 points. Australian share market rallied after two days of losses boosted by some recovery in the oil price as the benchmark S&P/ASX 200 gained 27.84 points or 0.52% to 5,381.45 points.

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