KSi Daily Report: Monday, 16 March 2015

POMSoX trading was stable for the first trading day of the week. The Kina Securities Main Index, or the KSi fell a mere 0.94 points (-0.03%) at 3,647.75 points while, the Kina securities Home Index, the KSHi remained flat at 9,744.14 points at the close.

Only one stock fell with no other movements for today’s session.

The decline in the main index was attributable to the poor performance of Oil Search Ltd (OSH) which lost a toea to end at K17.00.

Meanwhile, Bank South Paciifc Ltd (BSP) was unchanged at K7.35 flat

The day’s trading recorded a total of 11,808 units at a value of K105,644.90.

In Overseas news, U.S. stocks suffered another session of selling on Friday and the main indexes registered losses for a third straight week dominated by wild swings in currencies, with the dollar surging to multiyear highs against the euro and Oil prices falling nearly 10% over the week as the commodity had been hit hard due to a stronger dollar, reports of a supply glut and heightened output. Weaker-than-expected economic data added to the dour Wall Street mood. The Dow Jones Industrial Average dropped 145.91 points, or 0.8%, to 17,749.31 and recorded a 0.6% loss over the week. Japan’s Nikkei share average ended almost flat on Monday as profit-taking set in after it had hit a 15-year high earlier ahead of central bank policy meetings in Japan and the United States later this week. The Nikkei share average closed at 19,246.06 points down a mere 8.19 points or 0.04%. Likewise, In Australia, a sharp fall in oil prices and low iron ore prices have weighed on energy and mining stocks and sent the share market lower. At the close on Monday, the benchmark S&P/ASX200 index was down 16.80 points, or 0.29% at 5,797.70 points.

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