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KSi Daily Report: Thursday, 21 August 2014

Thursday’s trade saw both Kina Securities Indices on negative territories after two home stocks retreated on POMSOX session. The Main Kina Securities Index KSi withdrew 10.09 points (-0.27%) to 3,747.74 points. Likewise, the Home Index KSHi was down 144.79 points (-1.73%) to 8,204.05 points.

The day’s trading session recorded two losses versus nil gains.

Stocks unchanged for the day were led by junior cap miner Marengo Mining Ltd (MMC) at 8 toea flat followed by the leading oil and gas company Oil Search Ltd (OSH) at K19.13 even. Agmark New Guinea Product Ltd (NGP) traded at 79 toea.

On the downside, portfolio management company Kina Asset Management Ltd (KAM) closed at K1.08, down by 20 toea. Bank South Pacific Ltd (BSP) sliced off 27 toea to K7.18.

Thursday POMSoX registered a considerable volume of 1,162,883 units of shares valued at K1,357,440.09.

U.S stocks closed higher in overnight trading, shaking off a dip that came after the Federal Reserve indicated policy makers meeting about a sooner-than-anticipated increase in interest rates. The Dow Jones Industrial Average climbed 59.54 points or 0.35% to end at 16,979.13 points. In Asia, stocks outside Japan fell following a decline in Chinese manufacturing. In Japan, the Nikkei share average advanced 113 points or 0.73% to 15,568 points. Australian sharemarket ended higher after solid gains from Wall Street. The S&P/ASX 200 benchmark index added 7.20 points or 0.13% to 5,641.80 points today.

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