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KSi Daily Report: Thursday, 24 October 2013

For the third consecutive session, both Kina Securities stock indices closed lower as a total six stocks traded today with two home stocks heading in opposite direction on POMSoX . The main index or the KSi ended 1.96 points lower (-0.05%) at 3,897.27 points and similarly the home index, the KSHi, declined 33.98 points at 8,185.75 points.

Bank South Pacific Ltd (BSP) gained a toea to close at K8.02.

Credit Corporation Ltd (CCP) caused the negative impact on the indices, finishing 10 toea below the previous day’s close as the financial holding company completed at K2.50 with low trading volume today.

Stocks that traded unchanged for the day were led by NGP Agmark Ltd (NGP) unchanged at 85 toea and City Pharmacy Ltd (CPL) maintained its strong hold at K1.90. Other stocks included New Britain Palm Oil Ltd (NBO) at K15.00 flat and Oil Search Ltd (OSH) the stock briefly touched a high of K18.00 during today’s session but scaled back to K16.06 even at the close.

POMSoX registered a total of 29,089 units traded worth K57,239.39.

In New York, U.S stocks declined with the Dow Jones Industrial Average falling 54.33 points or 0.35% closing at 15,413.30 points on report that the largest Chinese banks saw their debt write-offs triple during the first half of the year. The Nikkei advanced 60.36 points (0.42%) to 14,486.40 point as latest news that China’s manufacturing strengthens in boost to recovery. The benchmark S&P/ASX 200 also advanced 16.79 points or 0.31% at 5,372.89 points.

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