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KSi Daily Report: Tuesday, 22 March 2016

Kina Securities stock indices were mixed after an active session on POMSoX Tuesday. The main index, the KSi, rose 101.55 points or 2.69% at 3,881.45 points, however the Kina Securities Home index (KSHi) declined 6.66 points or 0.07% to complete at 9,107.26 points.

One stock gained compared to an equal number of loss.
The gain to the main index was attributed to the positive performance of Newcrest Mining Ltd (NCM) at K35.00 up K2.00 following stronger ASX prices.

On the down side, Credit Corporation Ltd (CCP) closed a toea lower at K1.69.

Stocks that traded even were Bank South Pacific Ltd (BSP) and Highlands pacific Ltd (HIG) at K7.50 and 20 toea respectively.

Tuesday’s trading session recorded a substantial volume of 548,679 valued at K471,636.96.

In off-shore news, US stocks mustered small gains in overnight trading, but climbed enough to see the Dow log its longest win streak in months. The gains came amid a few high profile mergers with the Dow Jones Industrial Average having added 21.57 points or 0.1% to 17,623.87 points. Likewise, Japan’s Nikkei shares average soared to a one-week high on Tuesday as the dollar rose against the yen after two US federal Reserve officials supported the case for an interest rate hike sooner rather than later. The Nikkei rose 323.74 points or 1.9% at 17,048.55 points by close of market today. However, The Australian share market fell underwater in muted day of trading ahead of the Easter long weekend, as investors take a breather following a bumper March rally. In the absence of a strong lead from wall street, the S&P/ASX200 was down by 16.5 points to 5,166.60 points dragged down by falls in the banks and miners.

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