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KSi Daily Report: Wednesday, 16 March 2016

Kina Securities main Index, the KSi, gave away a mere 0.21 points (-0.01%) at 3,780.91 amid an active trading session on POMSOX today. Likewise, Kina Securities Home Index or the KSHi also withdrew 6.66 points or 0.07% to 9,113.92 points.

One stock lost compared to nil gains.

Credit Corporation Ltd (CCP) was the only stock that traded on a loss of 1 toea, ending the day at K1.69.

Meanwhile, unchanged stocks were led by junior cap miner, Highlands Pacific Ltd (HIG) at 20 toea, and Oil Search Ltd (OSH) which ended at K14.31 flat. Followed closely were the banking stocks, Bank South Pacific Ltd (BSP) and Kina Securities Ltd (KSL) at K2.40 respectively. City Pharmacy Ltd (CPL) also recorded a few trade at K1.29 even while Newcrest Mining (NCM) maintained a strong hold at K33.00 unmoved.

Wednesday’s trading session registered a considerable volume of 296,331 units with a monetary value of K356,041.42.

In overnight markets, The Dow Jones Industrial Average rose 22.40 points, or 0.1%, to close at 17,251.53 points, buoyed by a healthy advance in Apple Inc. despite a rout in oil prices and a string of lackluster economic data, ahead of the Federal Reserve’s important decision on interest rates. In Asia, Japanese stocks edged lower on Wednesday as some investors reduced their holdings ahead of the outcome of the U.S. Federal Reserve’s policy meeting. The Nikkei share average fell 142.62 points or 0.83% to 16,974.45 points at close of trading. However, The Australian share market has edged higher despite weaker commodity prices and falls on other major markets. Gains by the major banks helped to offset falls by the big miners, while the remaining market sectors were relatively mixed. At the close on Wednesday, the benchmark S&P/ASX200 index was up 7.60 points, or 0.15% lower at 5,119 points.

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