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KSi Daily Report: Thursday, 7 November 2013

The Kina Securities stock indices dropped significantly as caused by a key mining stock that fell on Thursday. The main index, KSi, suffered the biggest setback in three months, down 151.09 points (3.87%) to 3,752.58 points. Similarly, the Home index or the KSHi slipped 41.48 points (-0.50%) to 8,179.30 points.

There were three losers registered versus one that gained on POMSoX today.

Oil Search Ltd (OSH) was the sole winner for the session at K16.13, up 2 toea.

On the down side, Newcrest Mining Ltd (NCM), the mining company dual-listed on POMSoX and ASX dived K3.00 to K30.0 due to very thin trade. Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) also lost in late afternoon also with thin trading. BSP lost a toea at K8.00 while CCP at K2.50 declined by 10 toea today.

Marengo Mining Ltd (MMC) and New Britain Palm Oil Ltd (NBO) were the only two stocks unmoved for the session at 20 toea and K15.00 respectively.

The session registered a total volume of 31,786 shares valued at K72,281.03.

In markets abroad, the Dow Jones Industrial Average climbed 128.66, 0.82% points at 115,746.90 points, finishing at a fresh record high as investors warranted the continuous loose money policy by the Fed. However, Asian stocks generally slipped today ahead U.S. payroll data, with the Nikkei index of Japan dropping 108.87 points (-0.76%), closing at 14,228.40 points. Australian benchmark S&P/ASx 200 declined 11.77 points or 0.22% ending at 5,422.04 points as two of the big four banks traded ex-dividend. The Australian dollar depreciated against all major currencies.

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