KSi Daily Report: Tuesday, 08 December 2015

Both Kina Securities Indices closed higher after a key bank stock gained during POMSoX Tuesday’s session. At the close, the Main Index or KSi was up by a small margin of 0.29 points (0.01%) at 3,561.87 points while the home index or KSHi added 9.27 points or 0.10% to 9,607.92 points.

Two stocks were traded. One gained while another retreated.

Bank South Pacific Limited (BSP) advanced 5 toea to K7.50. Credit Corporation Ltd (CCP) fell, down 6 toea at K2.24 as the Company has discontinued the share buy-back scheme effective early this week.

Today’s session recorded a total of 26,432 units valued at K107,536.56.

U.S. stocks finished firmly in negative in overnight trading, as plunging oil prices hit energy and materials stocks, offsetting some of Friday’s big rally. The Dow Jones Industrial Average fell 117.12 points, or 0.7%, to 17,730.51. In Japan, the Nikkei was down 196.19 points or 1% at 19,501.96 points by close of market despite news that the economy had dodged a recession in the third quarter. The Australian shares followed the downward trend closing almost 1% lower on oil price slide and weaker iron ore weighed on the energy and mining sectors. At close of Tuesday’s trading the benchmark S&P/ASX200 index was down 47.1 points, or 0.91% at 5,108.60 points.

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