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KSi Daily Report: Wednesday, 13 January 2016

Both Kina Securities Indices relinquished yesterday’s gains by Wednesday’s close on POMSoX. The main index, the KSi fell 37.55 points (-1.11%) to end at 3,353.02 points. Similarly, the home index, finished at 9,423.17 points, dropped by 166.56 points (-1.74%).

POMSoX registered two losses against none that gained.

The two major stocks that retreated were Credit Corporation Ltd (CCP) giving up 25toea to close at K2.00, and Oil Search Ltd (OSH) which slipped 20toea to conclude the day at K14.10 following weaker ASX price as a result of a slump in world oil prices.

Other stocks that traded unchanged: the financial stock, Bank South Pacific Ltd (BSP) which closed steady at K7.49, followed by Newcrest Mining Ltd (NCM) at K25.00 flat.

Wednesday’s trade registered a total volume of 29,765 shares valued at K330,774.21.
In U.S. the DJI Average gained 117.65 points, or 0.7%, to 16,516.22 points at the close overnight as stocks ended with solid gains with oil market continues to dominate investor sentiment and technology and health-care sectors leading gains. Likewise, Japanese stocks rebounded sharply on Wednesday and posted their first gains of 2016 on positive China’s trade data and a weaker yen lifted oversold shares. The Nikkei share average rose 496.67 points or 2.88% to 17,715.63 points, posting the biggest daily percentage gain since early September. The Australian ASX followed the upward trend, also on o better-than-expected Chinese trade figures. At the close on Wednesday, the benchmark S&P/ASX200 index was up 62.30 points, or 1.26% at 4,987.40 points.

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