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KSi Daily Report: Wednesday, 31 August 2016

Wednesday’s trading session closed positively as both Kina Securities stock indices gained ground. The Kina Securities main index or KSi rose 2.82 points or 0.06% at 4,802.57 points. Similarly the Kina Securities Home KSHi gained 39.40 points or 0.39% to 10,248.70 points.

Two stocks gained versus nil gains.

Bank South Pacific Ltd (BSP) added 4toea to end high at K8.70. Oil Search Ltd (OSH) added a toea to close at K17.51.

Other stocks traded included Agmark NGIP Ltd (NGP) and Newcrest Mining Ltd (NCM) both unchanged at 70toea and K46.00 flat respectively. Kina Securities Ltd (KSL) was maintained at K2.60. The company also announced its’ interim dividend payment of A4.09cents yesterday.

Total shares traded were 61,372 shares valued at K178,889.98.

U.S stocks closed slightly lower as investors weighed on comments from the Fed on emphasis to raise interest rates sooner rather than later. Japanese stocks rose on Wednesday in heavy trade, led by exporters and financials as the dollar stood tall against the yen. The Nikkei gained 1 percent to 16,887.40 points, the highest closing level since August 12. The Australian stock market declined on Wednesday, tracking the negative lead overnight from Wall Street as well as lower commodity prices. The benchmark S&P/ASX 200 index was down 43.10 points or 0.79% to 5,435.20 points.

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