KSi Daily Report: Wednesday, 7 May 2014

Wednesday’s POMSOX session was modestly active as five stocks were traded. The Kina Securities Index, or KSi was cut 0.66 points to close at 3,654.07 points. The Home Index, KSHi, however remained steady at 8,088.74, up 1.41 points.

Today’s trading session saw one stock that lost to one that gained while three ended unchanged.

A leading pharmaceutical and cum retail supermarket stock City Pharmacy Ltd (CPL) was the sole winner for the day closing at K1.95, adding 1 toea.

Junior cap miner Marengo Mining Ltd (MMC) on a loss closing at 12 toea, down by 1 toea.

The unchanged were led by portfolio management company Kina Asset Management Ltd (KAML) in terms of trading volume at K1.05. Meanwhile financials Credit Corporation Ltd (CCP) and Bank South Pacific Ltd (BSP) also remained at K2.70 and K7.70 respectively.

Total shares registered today were 114,350 units worth of K120,842.35

In New York, U.S stocks fell throughout the session Tuesday and ended lower following concerns about fighting in Ukraine. The Dow Jones Industrial Average slipped 129.53 points or 0.78% to end at 16,401.02 points. Asian stocks were broadly lower amid thin trading on Wednesday to a one-month low as heightened possibility of Ukraine slipping into a civil war. Japan’s Nikkei share average tumbled 401 points or 2.77% at 14,056 points. Australian share market also closed lower following the weakness from Wall Street with the benchmark S&P/ASX 200 down 45.58 points or 0.83% to 5,435.80 points.

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