POMSOX stocks traded in negative territory on Friday amid heavy trading volumes. The Kina Securities Main Index or KSi was down 0.47 points or 0.01% at 3,865.82 points while the Kina Securities main Index of KSHi retreated 23.40 points or 0.29% to 8,085.74 points by close of market today.
Friday’s session recorded one gain against two losses.
Oil Search Ltd (OSH) was the sole winner as the oil and gas stock recouped a toea at K17.53.
Stock that headed the opposite direction were Bank South pacific Ltd (BSP) lower by a toea at K7.94 and Credit Corporation Ltd (CCP) at K2.55 declining by 5toea. Both financials were traded with large volumes today.
The session recorded a considerable volume of 452,286 units valued at K2,515,983.58.
U.S. stocks closed higher overnight as investors focused on upbeat earnings and shrugged off weak economic data. The Dow Jones Industrial Average added 63.65 points, or 0.4%, to 16,027.59 points. Japan’s Nikkei share average reversed early gains and fell into negative territory on Friday despite gains on Wall Street. The Nikkei was down 0.7% at 14,435.07. The Australian share market closed higher on Friday following a good lead from US markets and encouraging company earnings reports as the S&P/ASX 200 added 48.20 points or 0.915 at 5,356.30 points.