KSi Daily Report: Monday, 11 January 2016

The week opened amid a moderate trading session on POMSOX today as one of the indices declined in reaction to the sell down of major mining stocks. The Kina Securities main index fell 128.63 points or 3.67% to 3,379.69 points. Meanwhile, the Kina Securities Home Index KSHi was steady at 9,501.07.

Three stocks traded which saw to decline versus nil gains.

Dual-listed mining stocks Oil Search Ltd (OSH) and Newcrest Mining Ltd (NCM) both ended on the red, attributing to the negative indices. OSH closed 80toea lower at K14.20 while NCM ended at K25.00, down by K1.00.

Financial and banking stock Bank South Pacific Ltd (BSP) was unmoved at K7.50.

The day’s trades registered a total of 3,407 units valued at K28,291.00.

In overnight trading, U.S stocks relinquished an early advance and finished deep in the red, posting their worst opening in history. The Dow Jones Industrial Average declined 167.65 points (-1.02%) to 16,346.45 points. Japan’s stock market was closed today to commemorate its culture day. Australian share market clawed back some early losses but still closed more than one per cent lower, chalking up its seventh straight session in the red. The benchmark index S&P/ASX 200 was 58.60 points (-1.17%) lower at 4,932.24 points.

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