KSi Daily Report: Monday, 14 March 2016

The Kina Securities main stock index, the KSi, closed higher today with a large cap mining giant settling in green. The index ended up 407.06 points or 12.07% to 3,780.11 points while, the home index or the KSHi remained steady at the same level of 9,120.58 points at close of market.

One stock gained compared to none that fell.

The sole winner for the day was Newcrest Mining Ltd (NCM), the heavily-weighted mining stock among the components of the indices made a massive gain of K8.00 to reach at K33.00 inspired by strong ASX prices.

Stocks traded however remained unchanged were, Bank South Pacific Ltd (BSP) and Highlands Pacific Ltd (HIG) at K7.50 and 20 toea respectively.

Monday’s POMSOX session registered substantial volume of 249,368 units with monetary value of K137,409.50.

U.S stocks finished higher in overnight trading after oil prices rose, sending major indexes to their highest levels so far this year. The Dow Jones Industrial Average climbed 218.18 points or 1.28% to 17,213.31 points. Japanese stocks rose more than 2 percent to a more than a 1-week high as investors shook initial skepticism over ECB’s latest stimulus package and on hopes of oil prices bottoming out. The Australian share market closed higher despite weak Chinese economic data weighing on positive sentiment from Wall Street. Benchmark index S&P/ASX 200 gained 19.11 points or 0.37% to 5,185.50 points.

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