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KSi Daily Report: Tuesday, 11 March 2014

Both Kina Securities Indices recouped their losses after a key bank stock recovered on POMSOX Tuesday. The Main Index or KSi was up by 3.20 points (0.09%) at 3,612.88 points at the close while the home index or KSHi added 53.24 points or 1.47% to complete at 8,024.59 points, just above the 8,000 mark.

The day’s trading session recorded two gains versus a loss.

Bank South Pacific Ltd (BSP) largest banking and financial stock in PNG regained 10 toea at K7.80 followed by Oil Search Ltd (OSH) collecting a toea to close strong at K17.56.

The only stock that headed in the opposite direction was Marengo Mining Ltd (MMC) which ended lower by a toea at 14 toea today.

Stocks that were unchanged were New Britain Palm Oil Ltd (NBO) at K14.50 and Credit Corp Ltd (CCP) retaining its K2.60 spot. Newcrest Mining Ltd (NCM) was next at K25.00 flat.

Tuesday’s POMSoX session registered a combined volume of 66,654 shares valued K341,963.08.

In markets aboard, U.S stocks recovered most of their losses but still finished generally lower as the Dow Jones Industrial Average declined 34.04 points, 0.21% ending at 16,418.68 points. Asian stocks rose with the regional benchmark indices escalating after the biggest slump this month, as the Japanese Nikkei share average ended 106 points. 0.70% at 15,226 points. Australian sharemarket opened the week lower in the wake of disappointing Chinese trade data and slumping iron ore. The S&P/ASX 200 closed almost flat at 5,413.80 points, up 2.4 points or 0.04% today.

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