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KSi Daily Report: Tuesday, 07 March 2017

The Kina Securities Main Index retreated, weakened by heavy-weighted mining stock that fell on POMSoX. The Index KSi fell 190.46 points or 3.77% to 4,863.47 points. Meanwhile the Home Index KSHi remained at 10,694.79 points.

One stock gained while another one fell accompanied by a debit stock.

Oil Search Ltd (OSH) recouped 14toea to close at K17.95, the stock however was not enough to push the index to positive territory.

The considerable fall by the was attributed to the frail performance of the Newcrest Mining Ltd (NCM) as the heavy weighted miner retreated by K4.00 to K46.00.

Meanwhile, Credit Corp Ltd (CCP) ended at K1.95 even.

BSP unsecured notes (BSPHA) had also transacted at K26,000.00 flat today.

The day’s trading registered a total volume of 15,209 shares at value of K245,160.00.

U.S. stocks retreated in overnight trading with the Dow closing below 21,000 points as weak materials and financial sectors weighed on the market. Investors are also refraining from taking big positions ahead of the Federal Reserve’s monetary policy meeting next week amid mounting expectations for an interest rate hike. The Dow Jones Industrial Average shed 51.37 points, or 0.24%, to end at 20,954.34 points. Japan’s Nikkei share average edged down on Tuesday, following Wall Street’s lead, with investors deterred by geopolitical tensions after the North Korean missile tests, though the dollar-yen stayed in a well-worn range. The Nikkei fell 34.99 points or 0.18% to 19,324.93 points. The ASX reversed early losses to close higher after morning news of a Republican Party draft bill replace Obamacare. The S&P/ASX 200 index was up by 14.90 points or 0.28% at 5,761.40 points.

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