KSi Daily Report: Friday, 08 August 2014

On Friday, POMSoX’s close saw both Kina Securities Indices close in positive territory as the main index the KSi collected 2.63 points or 0.07% at 3,781.63 points. The Kina Securities Home index or the KSHi followed the same uptrend, advancing a further 106.48 points or 0.40% from yesterday’s close at 8,746.98 points.

POMSoX registered a gain against an equal number of loss for today.

Bank South Pacific Ltd (BSP) was the major contributor to the positive movement of the indices as the stock climbed by 20 toea to K7.40 before the weekend’s close supported by the share buyback plan.

On the downside, Oil Search Ltd (OSH) closed lower by 4 toea at K19.14 following weaker prices on the ASX.

Stocks unchanged for the day were led by City Pharmacy Ltd (CPL) at K1.70 flat and NGIP Agmark Ltd (NGP) at 79 toea even. Followed on were two junior mining cap stocks, Highlands Pacific Ltd (HIG) & Marengo Mining Ltd (MMC) which were steady at 15 toea and 8toea respectively.

Today’s session registered a total of volume of 250,542 shares at a value of K44,654.40.

In markets abroad, The U.S. stock market ended its overnight session with modest losses, as investors moved out of riskier assets and into gold and U.S. Treasurys. The Dow Jones Industrial Average fell 75.07 points, or 0.5%, to 16,368.27, its lowest close since April 25. In Asia, Japan’s Nikkei share average slumped to two-month lows on Friday on worries that escalating tensions between Russia and the West could hurt the global growth. The Nikkei average fell 445.00 points or 2.98% to 14,774.87 points falling below an important support from its 200-day moving average to its lowest levels since mid-June. Likewise, The Australian share market is down as ongoing tensions in Ukraine and the Middle East continue to weigh on the local exchange with the benchmark S&P/ASX200 index was losing 69 points, or 1.25% at 5,440.00 points by today close.

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