KSi Daily Report: Thursday, 20 November 2014

Both Kina Securities stock indices were in the negative territory after POMSoX session closed amid active trading today. The Kina Securities main index or the KSi sliced off 2.24 points (-0.06%) to 3,623.75 points, and the Home index or KSHi relinquished yesterday’s gains by 38.84 points or 0.41% to close at 9,442.86 points.

Two stocks fell with no gains as seven stocks were traded today.

Stocks that traded lower today were the financials, Bank South Pacific Ltd (BSP), down by 7 toea at K7.12 and Kina Asset Management Ltd (KAM) that lost 3 toea to K1.03 amid sizable trading volume.

Credit Corporation Ltd (CCP) and City Pharmacy Ltd (CPL) finished at K2.55 and K1.44 respectively as both stocks closed unchanged, followed by junior cap miner Marengo Mining Ltd (MMC) at 7 toea flat. Oil Search Ltd (OSH) remained steady at K17.50 while its ASX price rose 17 cents at $8.17. Kina Petroleum Ltd (KPL) also transacted today at 75 toea even.

Thursday’s POMSOX session recorded a total volume of 93,495 shares valued at K90,411.32.

In market abroad, the U.S. stock market rocked back and forth in the wake of the latest minutes from the last month’s meeting of the Federal Open Market Committee before closing marginally lower in overnight trading. The Dow Jones Industrial Average closed lower at 17,685.73 points, down 2.09 points or 0.01%. In Asia, the Japanese Nikkei share average added 12.11 points or 0.07% to 17,300.86 points as stocks edged amid a further weakening of the yen that boosted market sentiment. Meanwhile, The Australian share market ended in negative as mining stocks struggled with a fresh five-year low in the iron ore price. By close of market today, the benchmark S&P/ASX200 index was down 52.60 points, or 0.98% at 5,346.20 points.

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