KSi Daily Update; Thursday, 14 November 2013

Kina Securities indices were weaker on Thursday after a pharmaceutical stock fell on POMSoX session. The main index, KSi, dropped a mere 0.41 point to 3,829.89 points. Similarly, the home index or the KSHi ended 7.05 points lower at 8,207.89 points.

Only one stock that fell against the rest of stocks unchanged.

City Pharmacy Ltd (CPL) shed 5 toea to end at K1.85.

Stocks that traded unmoved were Credit Corporation Ltd (CCP) at K2.60 flat, followed by Oil Search Ltd at K17.01 flat.

New Britain Palm Oil Ltd (NBO) traded at K15.00 while New Crest Mining Ltd (NCM) ended at K30. Bank South Pacific Ltd closed at K8.00 flat.

Thursday’s trading registered total volume of 20,482 shares valued at K112,088.63.

In New York, U.S stocks recovered as Federal Reserve’s chairman signalled upholding the central bank’s growth stimulus until economy improves. The Dow Industrial Average climbed 70.96 points, 0.45% to a new record high of 15,821.60 points on strong results from Macy’s. Asian stocks bounced from six-week lows on Thursday. The Nikkei Average surged almost 3 percent to a near six-month high to 14,876.40 points on positive comments by on Janet Yellen, who is likely to become the first woman to lead the Federal Reserve. The S&P/ASX200 also gained, edging 36.25 points or 0.68% to 5,355.43, buoyed mostly by the big after their losses yesterday.

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