KSi Daily Report: Friday, 30 September 2016

Friday’s POMSOX trading session ended the month of September on a positive note as both Kina Securities Stock Indices gained. The Kina Securities Main index KSi collected 5.13 points or 0.11 % at 4,769.82 points. Similarly, the Kina Securities Home Index or KSHi rose 98.50 points or 0.93% at 10,746.32 points.

Two stocks gained among the rest that were unchanged.

Banking and financial stock Bank South Pacific Ltd (BSP) closed 10toea higher to end at K9.10. Followed by energy stock Oil Search Ltd (OSH) at K17.02, up 2toea.

Meanwhile, stocks traded however remained unmoved were Credit Corporation Ltd (CCP) and Kina Securities Ltd (KSL) at K1.85 and K2.70 flat respectively. Junior cap explorer Highlands Pacific Ltd (HIG) and mining stock Newcrest Mining Ltd (NCM) both evened out at 18toea and K46.00 respectively.

The day’s trading session transacted a substantial volume of 141,299 shares at a monetary value of K443,869.49.

U.S stocks closed lower recovering from session lows, following a selloff fueled by investor worry about European banks and talks of a December rate increase by the Feds. The Dow Jones Industrial Average closed down 195.79 points or 1.1% at 18,143.45 points. Japan’s Nikkei slipped after fears about the stability Deutsche bank shook Wall Street and took a toll on financial shares, with the Japanese stock index on track for a weekly and monthly losses. The Nikkei share average slumped 248.52 points or 1.49% at 16,445.19 points. The Australian share market closed lower as the benchmark S&P/ASX 200 was down 41.5 points or 0.76% at 5,429.80 points.

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