Both Kina Securities indices recovered from previous losses after two stocks gained grounds on POMSoX Thursday. The main index, the KSi, posed positive after gathering 52.20 points, or 1.47%, at 3,607.41 points. Similarly, the home index, the KSHi, added 49.25 points or 0.50 % to conclude at 9,808.46 points.
There were two advances versus none that fell on POMSoX today.
Oil Search Ltd (OSH) led the gainers as the stock added 50 toea at K16.50 followed by Bank South Pacific Ltd (BSP) collecting 5 toea at K7.45.
Stocks traded however remained unchanged were City Pharmacy Ltd (CPL) and Kina Asset Management Ltd (KAM) at K1.50 and 99 toea respectively.
Thursday’s trading session recorded a total volume of 16,452 units valued of K122,400.76.
U.S. stocks ended Wednesday with solid gains, recovering most of the losses from the previous session on the back of a big rally in tech stocks. The Dow Jones Industrial Average gained 121.45 points (+0.67%) to 18,162.99 points, with 25 of its 30 components closing higher. Japan’s Nikkei share average rose on Thursday morning, extending its gains to a 10th day as investors anticipated exporters’ earnings will rise after the dollar hit eight-year highs against the yen. The Nikkei 225 rose 78.88 points (+ 0.39%) to 20,551.46 points by close. The S&P/ASX200 index was down 9.30 points (-0.16%) at 5,702.2 points after the Australian shares traded lower despite gains on US markets overnight.