The Kina Securities main stock index, the KSi, closed higher today with a large cap mining giant settling in green. The index ended up 102.85 points or 2.67% to 3,955.36 points while, the home index or the KSHi remained steady at the same level of 9,112.94 points at close of market.
Two stocks gained compared to none that fell.
Newcrest Mining Ltd (NCM) advanced K2.00 at K35.00 followed by duel listed banking and financial stock Kina Securities Ltd (KSL) at K2.30 up 10 toea. The increases strengthened the main index.
Stocks traded however remained unchanged were Bank South Pacific Ltd (BSP) and Oil Search Ltd (OSH) at K7.50 and K15.01 respectively. Meanwhile, Credit Corporation Ltd (CCP) closed at K2.69 unmoved and Highlands Pacific Ltd (HIG) at 25 toea flat.
Tuesday’s trading recorded a total of 487,291 units valued at K217,495.33.
U.S. stocks ended lower in overnight trading, erasing some of their modest gains from last week, as investors awaited the conclusion of a Federal Reserve policy meeting later this week. The Dow Jones Industrial Average lost 26.51 points, or 0.2%, to 17,977.24 points as energy, materials and industrial shares underperformed. Japanese stocks fell on Tuesday as the yen retreated from a three-week low against the U.S. dollar, pruning the profit outlook for major exporters. The Nikkei share average slipped 86.02 points or 0.46% to end the day at 17,353.28 points. Likewise, The Australian share market closed modestly lower as investors await Australian inflation data, a US decision on interest rates and US economic figures. On Tuesday, the benchmark S&P/ASX200 index was down 15.8 points, or 0.30% at 5,220.60 points.