KSi Daily Report: Tuesday, 13 May 2014

POMSOX stocks closed another trading session on an active note with both Kina Securities Indices settled in positive. The main Index collected 2.69 points or 0.03% to 3,658.44 points. Likewise the home index added 1.05 points at 8,089.79 by close of market today.

Two out of ten stocks that traded today ended with gains.

Oil Search Ltd (OSH) moved higher at K18.04, up 3 toea as the dual listed stock also gained on the ASX by 12 cents to $9.15. Kina Asset Management Ltd (KAM) beefed up 2 toea at K1.07.

Stock traded however remained unchanged were Bank South Pacific Ltd (BSP) closing steady at K7.70, with Credit Corporation Ltd (CCP) and City Pharmacy Ltd (CPL) at K2.70 and K1.95 respectively. Two junior cap miners, Highlands Pacific Ltd (HIG) remained 20 toea flat and Marengo Mining Ltd (MMC) unmoved at 12 toea. Meanwhile, sole-listed agricultural stock ion POMSoX New Britain Palm Oil Ltd (NBO) completed at K15.00 even and Newcrest Mining Ltd (NCM) steady at K25.00. NGIP Agmark Ltd (NGP) stayed at 80 toea.

Tuesday’s POMSOX session recorded a substantial volume of 115,002 shares valued at K132,041.54.

In the U.S, stocks rose while treasury prices fell as shares of Internet and biotech shares, with market watchers waiting for several economic data points later during the week. Dow Jones Industrial Average added 112.13 points,(+0.68%) to end at 16,695.47 points, a new record closing high. Asian stocks advanced as investors weighed on rally by Wall street. Japan’s Nikkei share average surged 305 points or 2.15% to 14,454 points as carmakers advanced . Australian stocks also ended positively on New York’s strong close despite tough federal budget. The benchmark S&P/ASX 200 closed 49.8 points or 0.91% higher to 5,498.20 points.

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