KSi Daily Report: Tuesday, 16 June 2015

Both Kina Securities stock indices were in the red after POMSoX closed on Tuesday, as three out of four stocks that traded closed lower. The main index, the KSi, fell 52.63 points or 1.46% to 3,553.94 points. Similarly, the home index or the KSHi moved further lower by 62.87 points 0.64% lower to finish at 9,719.00 points.

The indices’ decline was attributable to the weak performances of home stocks, which were led by Bank South Pacific Ltd (BSP) falling 3 toea to end at 7.40, followed by another financial stock Credit Corporation Ltd (CCP) at K2.50, down by 5toea. Likewise, duel listed oil and gas stock, Oil Search Ltd (OSH) relinquished yesterday’s gains by 50 toea to close back at K16.00.

Meanwhile, City Pharmacy Ltd (CPL) the sole listed pharmaceutical company on POMSoX was the only stock flatly traded at K1.47.

Tuesday’s session recorded a total volume of 35,396 share valued at K118,164.54.

In market abroad, U.S. stocks finished broadly lower in overnight, after the collapse of weekend talks over Greece’s bailout plan and disappointing economic data. The Dow Jones Industrial Average had dropped 107.67 points lower a loss of 0.6% at 17,791.17 points. In japan, the Nikkei share average fell 129.85 or 0.64 to 20,257.94 points as stocks slipped on Tuesday on Greece. Likewise, the Australian share market has closed slightly lower, with a solid performance by the banks unable to support the broader market. The benchmark S&P/ASX200 index was 2.40 points or 0.04% lower at 5,536.40 points.

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