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KSi Daily Report: Tuesday, 26 January 2016

Both Kina Securities indices closed lower after two out of three stocks that traded today closed in red. The main index, KSi gave up yesterday gains at 3,354.82, down 25.90 points or 0.77%. Likewise the home index or KSHi retreated 19.70 points or 0.21% to 9,326.62 points.

Oil Search Ltd (OSH) dropped yesterday’s gains at K14.05, down 25toea as oil prices slid below $30.00 a barrel again. Bank South Pacific Ltd (BSP) also closed lower by 2toea to K7.48 amid thin volume.

Meanwhile, Credit Corporation Ltd (CCP) was the only unmoved stock for today’s session ending at K2.05.

Tuesday’s trading registered a total of 16,491 shares with PGK value of K98,927.58.

In New York, the DJIA fell 208.29 points, or 1.3%, to 15,885.22 points at close of market as U.S. stocks accelerated declines in the last trading hour to finish the day sharply lower in overnight trading. A renewed rout in oil prices hit energy and materials shares. Financials also sold off on Monday, falling 2.3%.. Japanese stock indexes tumbled more than 2% on Tuesday as investors took profits on a two-day bounce after concerns about global growth were revived as oil prices slid. The Nikkei share average fell 402.01 points or 2.35% to 16,708.90. Meanwhile the Australian stock market was closed for today in observance of Australia Day.

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