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KSi Daily Report: Thursday, 20th October 2016

Both Kina Securities stock indices gained grounds on Thursday’s POMSOX trading session. The Kina Securities Main index KSi surged 91.67 points or 1.96% at 4,764.70 points. Similarly the Kina Securities Home Index KSHi rose 9.85 points or 0.09% at 10,658.80 points.

Three stocks gained versus nil losses today.

Energy stock Oil Search Ltd (OSH) led the winners, up by 40toea to close high at K17.50 followed by Newcrest Mining Ltd (NCM) at K45.00, adding a toea to end at K45.00. Bank South Pacific Ltd (BSP) also closed higher at K8.98, up a toea.

Meanwhile, Credit Corporation Ltd (CCP) was the only stock unmoved at K1.90.

The day’s session transacted a total of 7,935 shares valued at K71,807.14.

U.S stocks closed higher for a second session boosted by a rally in the energy sector and stronger-than-expected quarterly results from Morgan Stanley. The Dow Jones Industrial Average rose 25.00 points or 0.14% to 18,150.00 points. Japan’s Nikkei share average rose to a near six –month high taking cues from rising U.S stocks as investors priced in the outcome of the final U.S presidential election debate, advancing 236.59 points or 1.39% to 17,235.50 points. The Australian stock market pared early gains and was modestly higher as investors digested weaker-than-expected Australian jobs data. The S&P/ASX 200 benchmark added 7.60 points or 0.14% to 5,443.00 points.

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