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KSi Daily Report: Tuesday, 26 November 2013

Both Kina Securities indices closed on a mixed note as stocks headed in opposite direction for Tuesday’s POMSoX trading session The main index, the KSi, extended gains with 4.36 points (+0.11%) from yesterday’s close at 3,840.13 points while the home index or the KSHi was down by a small margin of 0.52 points (-0.01%) at 8,229.41 points by close of market.

One stock gained compared to an equal number of stock that lost.

Oil Search Ltd (OSH) moved higher at K17.11, up 5 toea as the dual listed stock also gained on the ASX by 8 cents to $8.38.

On the downside, NGIP Agmark Ltd (NGP) declined 1toea at 83 toea.

Stock traded however remained unchanged were Bank South Pacific Ltd (BSP) closing steady at K8.01, and Credit Corporation Ltd (CCP) and City Pharmacy Ltd (CPL) at K2.50 and K1.95 respectively. Two miners, Newcrest Mining Ltd (NCM) at K30.00 flat and Marengo Mining Ltd (MMC) was unmoved at 19toea.

Meanwhile, BSP unsecured notes (BSPHA) also traded but ended at K28,000.00, unchanged.

In New York markets, the Dow Jones Industrial Average recorded small gain on agreement by global powers on a deal with Iran to curb the nation’s nuclear program. The Average rose 7.77 points (+0.1%) to finish at 16,072.54, scoring another record close. In Asia, Japanese stocks retreated from a 6-month high on Tuesday on profit-taking. The Nikkei fell 103.89 points or0.67% at 15,515.24. The Australian stockmarket closed flat in light trade despite bank gains but weak resources sector, with the S&P/ASX 200 index collecting 4.20 points (+0.08%) at 5,357.00 points.

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