KSi Daily Report: Friday, 15 November 2013

The Kina Securities indices recovered from yesterday losses on a few stocks that gained grounds on Friday. The main index, the KSi, posed positive mark after edging 0.64 points, or 0.2%, at 3,830.53 points. Similarly, the home index, the KSHi, went up 1.87 points, or 0.06 %, to conclude at 8,212.76 points.

There were three gainers versus two losers on POMSoX today.

City Pharmacy Ltd (CPL) collected 10 toea at K1.95 while Kina Asset Management Ltd (KAM) gave a further boost to the indices by advancing 5toea to K1.10. Oil Search Ltd (OSH) closed up high at K17.02 after inching 1 toea.

However, Bank South Pacific Ltd (BSP) closed a toea lower at K7.99 with Highlands Pacific Ltd (HIG) completing at 20 toea, down by a toea with modest volume.

Other stocks traded unchanged on Friday were Marengo Mining Ltd (MGO) that closed at 18toea, while Credit Corp Ltd (CCP) added to the same list at K2.60 flat.

Today’s trading recorded a moderate volume of 66,994 shares at a monetary value of K63,717.77.

Overseas the U. S. gains led charge to the global stocks advance. The DJIA Index surged to another new highs at 15,876.20, up 54.59 points or 0.35% on Thursday after comments from Janet Yellen, the U.S. Federal Reserve Chair nominee, said the Fed’s accommodative policies would continue as long as the economy remains fragile. In Asia today, share markets gained comfort in the prospect of extended U.S. monetary stimulus, with the Nikkei Index spurring to another session of 3-digits positive gain of 289.51 points or 1.95%to 15,165.90 aided by a falling yen. Hang Seng Index added 391.46 points or 1.73% to 23,040.60. In Australia, broad gains across the ASX saw the S&P/ASX200 finishing in the black, buoyed by banking and material stocks over the overnight U. S. gains. The Index jumped to 5,401.67, up 46.24 points or 0.86% at the close.

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