KSi Daily Report: Thursday, 03 March 2016

Both Kina Securities stock indices retreated after POMSOX closed for Thursday, weakened by a home stock that fell. The main index KSi slipped a mere 0.03 points to 3,362.80 points. Likewise, the home index KSHi closed 0.98 points (-0.01%) lower to finish at 9,115.98 points.

Only one stock fell against none that gained for the session.

Portfolio management company Kina Asset Management Ltd (KAM) was the stock that retreated today, down by a toea to end at 98toea resulting in both indices to close in red.

Stocks traded however remained unchanged were led by junior cap miner Highlands Pacific Ltd (HIG) at 20toea. Followed closely by Bank South Pacific Ltd (BSP) and Oil Search Ltd (OSH) at K7.49 and K14.20 flat respectively.

Bank South Pacific Ltd released its 2015 financial results, showing the Company has recorded consolidated operating profit after tax of K531.9 million, a 4.8% increase over the same period a year ago.

Thursday’s trading session recorded a considerable volume of 140,125 units valued at K42,779.51.

U.S stocks closed higher, building on the previous session’s advance, partly to a jump in the energy sector following sharp gains in crude. The Dow Jones Industrial Average rose 34.24 points or 0.20% to 16,899.32 points. Japanese stocks rose to 3-1/2 week highs as risk appetite improved following the release of upbeat data on U.S jobs and a rally in oil and other commodities. The Nikkei share average climbed 1.28% or 213.61 points to 16,960.16 points. The Australian stock market rose, extending gains from the previous sessions, with the positive lead overnight from Wall Street and higher commodity prices boosting investor sentiment. S&P/ASX 200 rose 59.89 points or 1.19% to 5,081.12 points.

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