KSi Daily Report: Thursday, 17 October 2013

On POMSoX two stocks declined on Thursday, slightly placing the Kina Securities indices to the negative zones. The main index, the KSi closed lower by slipping 88.87 points, or 2.28% to 3,814.00 points. Meanwhile, the home index, or the KSHi retreated 5.32 points, or 0.06% at 8,284.66 points.

Two key stocks that lost on POMSoX trade against no gain today.

The largest bank stock in market capitalisation, Bank South Pacific Ltd (BSP) led the losses to give in 1 Toea and complete at K8.02  Oil Search Ltd (OSH) also retreated a toea lower to close at K16.05 despite higher earlier trading in the day.

City Pharmacy Ltd (CPL) was the only stock that traded unchanged, maintaining a strong hold at K1.90.

Today’s trading recorded a light volume of 12,313 shares valued at K174,221.54.

U.S stocks recovered overnight after U.S lawmakers finally voted to raise the nation’s debt limit. The Dow Jones Industrial Average rose 205.82 points, 1.36% closing at 15,373.80 points. The Japanese Nikkei climbed higher at 119.37 points (0.83%) ending at 14,586.50 points as stocks jump on debt accord as credit risk declines. The S&P/ASX 200 also advanced, up 20.19 points or 0.38% closing at 5,283.10 points on ASX.

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