KSi Daily Report: Friday, 01 April 2016

POMSOX stocks were mixed amid an active trading session on Friday. The Main index KSi was down by 32.48 points (-0.81%) at 4,00.89 points still above the 4,000 point benchmark, while the home index, KSHi finished at 9,087.27 points, after adding 2.90 points (0.03%).

One stock won against three stocks that fell today.

Bank South Pacific Ltd (BSP) recouped 3toea at K7.50, this positive movement had the home index in green.
While on the down side, PNG’s leading Oil and gas company Oil Search Ltd (OSH) was down 29toea at K14.01 followed by the financials, Credit Corporation Ltd (CCP) at K1.65, declining 3 toea and Kina Securities Ltd (KSL) at K2.10 after falling 30toea.

Other stocks were traded unchanged at the close. Newcrest mining Ltd (NCM) maintaining its stance at K38.00 even followed closely by junior cap miner Highlands Pacific Ltd (HIG) at 20 toea unmoved.

Friday’s session registered a substantial volume of 264,522 units with a monetary value of K155,464.04.

In overseas news, US stocks dropped in choppy trade to end a well-performing month disappointingly lower. The Dow Jones Industrial Average fell 31.57 points or 0.18% to 17,685.09 points. Japan’s Nikkei dropped to a one-month low after the central bank’s quarterly corporate survey snapped risk appetite, dragging down stocks across the board. The Nikkei stumbled 594.51 points or 3.55% to 16,164.16 points. The Australian share market was down as all sectors of the market were low, especially the financial sector by weakness among the big banks. The benchmark index S&P/ASX 200 declined 83.40 points or 1.64% to 4,999.39 points.

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