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KSi Daily Report: Wednesday, 19 March 2014

Both Kina Securities stock indices closed on negative notes after Wednesday’s POMSoX trading session. The Kina Securities Main Index or the KSi declined by 0.52 points or 0.01% to end at 3,618.69 points. Likewise, the Kina Securities Home Index or KSHi closed at 8,034.12, down 26.62 points or 0.74%.

Wednesday’s trading recorded two losses to another that gained.

Oil and gas company Oil Search Ltd added 2Toea to close at K16.72.

On the downside, Bank South Pacific Ltd (BSP) registered at K7.7 5 dropping 5 toea amid moderate trading volumes. Marengo Mining Ltd (MMC) was other closing a toea lower at 14 toea.

A leading financial institution Credit Corporation Ltd (CCP) ended at K2.70 flat, and City Pharmacy Ltd (CPL) registered trade at K1.96.

The session registered a volume of 45,928 shares valued at K62,038.33.

In New York, U.S stocks rose for a second day in a row as Ukraine avoids violence and housing data bolstered confidence in the economy. The Dow Jones Industrial Average rose 88.97 points, 0.55% ending at 16,336.19 at the close. Asian stocks fluctuated as investors weighed the prospect of further sanctions against Russia whilst awaiting the Federal Reserve’s policy statement. The Japanese Nikkei share average gained 51 points, 0.36% to 14,463 points. Australian S&P/ASX200 also climbed higher with the index 200 closing at 5,355.59, up 11.03 points or 0.21% Wednesday.

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