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KSi Daily Report: Thursday, 19 March 2015

Thursday’s POMSOX trading session was stable for the fourth consecutive session. The Kina Securities Main index KSi maintained at 3,647.75 points and likewise the Kina Securities home index KSHi was steady at 9,744.14 points.

Three stocks that traded today were unmoved.

Leading financial stock in terms of market capitalization Bank South Pacific Ltd (BSP) closed at K7.35, aided by the company’s continuous share buyback program. The stock registered 2,763 units valued at K20, 308.05. Followed by portfolio management stock Kina Asset Management Ltd ending at K1.00 flat. Newcrest Mining Ltd (NCM) was unchanged at K25.00 even.

The day’s trading recorded a total of 4, 068 units at a share value of K28,813.05.

In markets abroad, U.S stocks closed higher after the Federal Open Market Committee indicated a slower pace of rate hikes from its policy statement. The Dow Jones Industrial Average surged 227.11 points or 1.27% to 18,076.19 points. Japanese share prices slipped from 15-year highs as investors took profits on recent gainers such as financial shares. The Nikkei share average fell 49.72 points or 0.25% to 19,494.76 points. The Australian share market has enjoyed its strongest session in five weeks as the Australian dollar’s rise increased expectations of another interest rate cut. At the close, the S&P/ASX 200 benchmark index was up 108.45 points or 1.86% to 5,950.80 points.

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