KSi Daily Report: Wednesday, 12 November 2014

Both Kina Securities indices retreated as one out of five stocks that traded declined on close of Wednesday’s session on POMSOX. The Main Index KSi dropped 19.05 points or 0.51% to close at 3,750.70 points. Likewise, the Kina Securities Home Index KSHi fell 330.07 points or 3.49% to 9,129.29 points.

A leading financial stock, Bank South Pacific Ltd (BSP) closed lower at K6.50, down by 85 toea, the lowest level since September 2010.

Stocks traded unchanged for the day were led by junior exploration stock Marengo Mining Ltd (MMC) in terms of trading volume at 7 toea. Followed closely by City Pharmacy Ltd (CPL) and Credit Corporation Ltd (CCP) at K1.44 and K2.60 respectively. Meanwhile Oil Search Ltd (OSH) maintained at K19.15 flat.

On POMSoX, a combined volume of 325,161 units of shares valued at K2,003,063.49 was recorded.

In US markets, stocks finished posting records high for the fifth straight day amid thin trading session. The Dow Jones Industrial Average collected 1.16 points to 17,614.90 points. The Nikkei share average in Tokyo rose 73 points or 0.43% to 17,197 points as Japanese shares gained hitting a 7-year high on reports that PM will delay a second sales tax hike. However, Australian shares closed broadly weak as owe global iron prices triggering a sell-off in the mining sector. The benchmark S&P/ASX200 was down by 54.05 points or 0.98% at 5,463.05 points today.

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