KSi Daily Report: Tuesday, 05 April 2016

Both Kina Securities stock indices were unchanged for a second consecutive session on POMSoX Tuesday. The main index or KSi was unmoved at 4,000.89 similarly, the home index was at 9,087.27 points flat at the close.

Two stocks traded during the session however both remained steady.

Oil Search Ltd (OSH) led the unchanged, as the largest PNG oil & gas producer conclude at K14.01 flat followed closely by Bank South Pacific Ltd (BSP) K7.50 even.

Tuesday’s trading recorded a total of 1,542 shares with a value of K15,640.26.
In off-shore news, U.S. stocks slumped in overnight trading as losses for industrials and materials offset sharp gains in health-care shares. Meanwhile, a fresh drop in oil prices weighed on risk appetite, eroding investor confidence after last week’s comments from Federal Reserve helped support stock advances. The Dow Jones Industrial Average ended 55.75 points, or 0.3%, lower at 17,737.00 points. Japan’s Nikkei share average tumbled on Tuesday after the stronger yen hurt the overall market mood, while a drop in Fast Retailing Co weighed after the clothing company reported a poor monthly sales. Investors also sold oil shares, spooked by a sharp fall in crude prices. The Nikkei fell 390.45 points or 15,732.82 points at close of market today. Likewise, The Australian share market has slipped further by noon, following a weak lead from Wall Street overnight and lower prices for copper and oil. The benchmark S&P/ASX200 index was down 77.50 points, or 1.55% at 4,934.2 points.

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