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KSi Daily Report: Thursday, 22 May 2014

The Kina Securities main index closed higher for second consecutive session by close of market on POMSoX Thursday. The KSi picked up 14.03 points or 0.17% at 3,672.41 while the Kina Securities home index or KSHi was steady at 8,088.74 unchanged.

Only one stock gained compared to no other stock movements for today.

Oil Search Ltd (OSH) added 15 toea to close at K18.20. In ASX, the dual-listed stock added 11 cents to $9.25 at the close as it reached an intraday high of $9.29 in today’s trading session.

Unchanged stocks were led by the financials, Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) ended K7.70 and K2.70 respectively, followed closely by City Pharmacy Ltd at K1.95 even and Marengo Mining Ltd (MMC) at 12toea.

Thursday’s session transacted a total of 51,005 units with a monetary value of K111,409.72.

In overseas markets, U.S stocks rebounded on Wednesday ending in solid gains from previous day’s losses, led by advances in consumer discretionary and energy sectors. The Dow Jones Industrial Average advanced 158.75 points or 0.97% to end at 16,533.06 points. Asian stocks rose first time in five days following positive Chinese manufacturing gauge. Japan’s Nikkei share average rose 313 points or 2.23% ending at 14,355 points. Australian stock market followed the lead from Wall Street across mixed sectors. The benchmark S&P/ASX 200 added 54.23 points or 1.00% at 5,478.80 today.

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