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KSi Daily Report: Wednesday, 13 November 2013

The Kina Securities Stocks indices retreated after two consecutive session of gains after POMSoX closed Today. The main Stock index, the KSi, slid 0.25 points to 3,830.30 point. Likewise the Home index or the KSHi lost 4.43 points, or 0.05% to end low at 8,214.94 points.

There was a single gain against two losses registered on POMSoX Today.

City Pharmacy Ltd (CPL) added 1 toea at K1.90 with a moderate trading volume.

The losses were led by the financial stock, Bank South Pacific Ltd (BSP) that gave away 1 toea to K8.00 at the close. NGIP Agmark (NGP) also down by 1 toea at 84 toea. The declines caused both indices to retreat to the negative territory.

Stocks traded unchanged included New Britain Palm Oil Ltd (NBO) which ended at K15.00 flat while Oil Search Ltd (OSH) still strong at K17.01.

Wednesday’s trading session recorded a light volume of 20,482 shares valued at K112,088.63.

U.S. stocks ended with modest losses on Tuesday, with the Dow industrials retreating from the previous session’s record close. The index lost 32.3 points at 15,750.67 points on fresh warnings about a potential stimulus reduction. Likewise, Japanese stocks retreated from a three-week high on Wednesday on concerns about U.S. monetary despite outperformed Sumitomo Mitsui Financial Group after raising its earnings forecast. The Nikkei closed down 0.2% at 14,567.16 in choppy trade. Australian stocks also traded lower as traders reduction in US economic stimulus. The S&P/ASX200 fell 73.90 points at 5,319.20 points after close of ASX today.

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