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KSi Daily Report: Tuesday, 17 March 2015

Trading was active on POMSoX today with both Kina Securities Stock indices staying unchanged. The main index, the KSi, was stable at 3,647.75 points while the Kina Securities Home index or the KSHi held at 9,744.14 points.

All six (6) stocks that traded on POMSoX for the day closed flat.

Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) took the lead as both financials closed steady at K7.35 and K2.60 respectively. City Pharmacy Ltd (CPL) traded even at K1.39, followed by Oil Search Ltd (OSH) which completed at K17.00 flat. Kina Asset Management Ltd (KAM) ended the day still strong at K1.00 while junior cap miner Marengo Mining Ltd (MMC) traded 4 toea even.

Tuesday’s session recorded a substantial volume of 177,057 units worth K169,670.45.

In markets abroad, U.S. stocks kicked off the week on a high note, posting solid gains, as international markets rallied and investors looked toward the Federal Open Market Committee’s meeting and policy statement on Wednesday. The Dow Jones Industrial Average jumped 228.11 points, or 1.3%, to 17,977.42, with 28 of its 30 components finishing higher. Japan’s Nikkei share average rose to a fresh 15-year high on Tuesday following gains in U.S. and European shares, while expectations that companies could improve their return on equity will improve lifted overall sentiment. The Nikkei share average rose 190.94 points or 0.99% to 19,437.00 points. Likewise, The Australian benchmark S&P/ASX200 index was up 44.40 points, or 0.77% at 5,842.10 points after The Reserve Bank of Australia’s minutes unveiled on Tuesday morning reinforced the view that a second interest rate cut is likely in May.

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