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KSi Daily Report: Tuesday, 23 February 2016

Tuesday’s POMSOX trading session was active as both Kina Securities stock indices closed in negative territory. The main index, KSi was 8.16 points or 0.24% lower to 3,362.83 points. Similarly, the Kina Securities Home Index or KSHi slumped 226.52 points or 2.42% to 9,116.96 points.

All three stocks traded lost compared to nil gains.

On the downside, leading banking and financial stocks Bank South Pacific Ltd (BSP) shed a toea to end at K7.49 while Credit Corporation Ltd (CCP) declined 34toea to close lower at K1.70. Oil Search Ltd (OSH) was also down by a toea to end at K14.20. In a released announcement, Oil Search Ltd declared its full year results, notifying shareholders and the general public of the 2015 final dividend payment equivalent to 4US cents.

Total shares registered today was a considerable amount of 255,382 valued at K478,898.93.

U.S stocks closed higher in overnight trading after crude oil futures rose up sharply, as a drop in the number of U.S oil rigs boosted hopes that supply was down to meet demand. Dow Jones Industrial Average was 228.67 points or 1.40% high at 16,620.66 points. Japanese shares edged up in thin, choppy trade as continued volatility in oil prices dampened over Wall Street’s overnight surge. The Nikkei share average shed 59.00 points or 0.37% to 16,052.05 points. The Australian share market has closed lower, with early gains as investors undertook strategic sell-offs. The benchmark index S&P/ASX 200 was down 21.63 points or 0.43% to 4,979.59 points.

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