KSi Daily Report: Thursday, 20 March 2014

Both Kina Securities stock indices extended losses after POMSoX stocks ended session Thursday. The KSi sliced a small 0.23 points off to 3,618.46 points. Similarly the KSHi was down by 4.03 points (-0.11%) at 8,030.09 points.

Two stocks lost with no gainer for the session.

City Pharmacy Ltd (CPL) the sole listed Pharmaceutical stock moved a toea lower to K1.95 on thin trading, followed by Kina Asset Management Ltd (KAM) that fell 5 toea to K1.05.

The financial stocks, Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP), flat at K7.75 and K2.70 respectively, led those traded unchanged. Meanwhile , Marengo Mining Ltd (MMC) the junior cap stock ended even at 14 toea.

Thursday’s trading recorded a c combined volume of 101,409 units valued at K53,072.69.

In markets abroad, U.S stocks dropped and bond yields surged after Federal Reserve chairperson stated that rate hikes could occur after six months. The Dow Jones Industrial Average declined 114.02 points, 0.07% ending at 16,222.17 points. Asian shares fell from one-week highs after prospect of interest rate hikes, with the Japanese Nikkei share average falling 238 points or 1.65% closing to 14,224.00 points today. The Australian sharemarket also closed lower as the S&P/ASX 200 dropped 61.59 points or 1.15% at 5,294.00 points on the close.

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