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KSi Daily Report: Wednesday, 26 March 2014

POMSoX stocks were quiet for Wednesday’s session with both Kina Securities stock indices declining caused by a lower key financial stock. The Main Index or the KSi was down by a mere 0.11 points to 3,615.82 points. Similarly the Kina Securities Home Index or the KSHi dipped 1.88 points (-0.05%) to close at 7,944.82 points.

Only one stock gained compared to an equal number of loss on POMSoX today.

City Pharmacy Ltd (CPL) the pharmaceutical stock cum retail supermarket, recovered 10 toea to complete K1.95.

Bank South Pacific Ltd (BSP) the only bank stock listed closed lower by 3 toea at K7.75, the heavy weighted stock caused both indices to retreat into negative territory.

Meanwhile, Kina Petroleum Ltd (KPL) was the only unchanged stock at 90 toea flat.

The day’s trading session had a thin volume of 9,299 shares valued at K52,760.00 exchanged hands.

In Overseas market, U.S stocks gained as U.S consumer confidence data provided some support for shares with the hope for the issuing of preferred shares. The Dow Jones Industrial Average rose by 91.19 points or 0.56% to end at 16,367.88 points at the close. Asian stocks rose characterized by the boost in U.S consumer confidence, easing concerns over the Ukraine crisis. Japan’s Nikkei share average gained 54 points, 0.37% closing at 14,477 points on the market. In Australia, the S&P/ASX 200 surged with the benchmark index closing high at 40.13 points or 0.75% to end at 5,376.76 today.

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