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KSi Daily Report: Tuesday, 10 May 2016

The Kina Securities main index, the KSi, closed higher today with a large cap mining giant settling in green. The index ended up 101.76 points or 2.42% to 4,309.15 points while the home index or the KSHi remained steady at 9,112.94 points at the close of market.

One stock gained compared to none that fell.

Newcrest Mining Ltd (NCM), the heavily-weighted stock among the components of the indices gained K2.00 to reach K38.00 inspired by strong ASX prices.

Stocks traded however remained unchanged were Bank South Pacific Ltd (BSP) and Kina Securities Ltd (KSL) at K7.50 and K2.30 flat respectively. Oil Search Ltd (OSH) followed, closing unchanged at K17.00.

Tuesday’s POMSOX session registered a combined volume of 36,573 units at a monetary value of K283,263.90.

U.S stocks ended the day mixed as oil fell and Chinese economic data came in weaker than expected. The Dow Jones Industrial Average fell 34.72 points or 0.20% to 17,705.91 points. Japan’s Nikkei rose more than 2 percent to a 1-1/2 week highs after the yen intervention warning by Japan’s finance minister. The Nikkei share average was surged 349.16 points or 2.15% to 16,565.19 points. Australian share market was steady as falls in mining and energy stocks were offset by gains across the banking sector. The benchmark index S&P/ASX 200 added 22.10 points or 0.42% to 5,342.80 points.

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