KSi Daily Report: Tuesday, 10 December 2013

Kina Securities Stock indices closed lower after two key home stocks retreating on POMSoX by close of Tuesday’s trading. The Kina Securities main index, the KSi, eased 0.29 points (-0.01%) to end the session at 3,872.50 points, likewise, the Home index, or the KSHi, was down 20.17 points (-0.25%) at 8,195.53 points.

Only one stock gained versus two that fell today.

Oil Search Ltd (OSH) inched 1 toea higher to K17.51.

On the down side, the financial stocks Kina Asset Management Ltd (KAM) lost 4 toea at K1.06 and Credit Corporation Ltd (CCP) closed at K2.55, down 5 toea. The losses caused both indices to retreat to negative zone.

Other stocks traded but remained unchanged through the session were City Pharmacy Ltd (CPL) at K1.95, while Newcrest Mining Ltd (NCM) and New Britain Palm Oil (NBO) remained flat at K30.00 and K15.00 respectively. Marengo Mining Ltd (MMC) ended even at 18 toea followed closely by Bank South Pacific Ltd (BSP)at K7.99 unchanged.

The session registered a good volume of 50,871 shares with a monetary volume of K95,527.29.

In markets abroad, U.S. stocks nudged higher on Monday, as investors were largely unfazed by a trio of Federal Reserve officials suggesting a stimulus reduction could come next week. The Dow Jones Industrial Average gained 5.33 points, or less than 0.1%, to close at 16,025.53 points. Japan’s Nikkei stock average pulled back from a one-week high today as investors booked gains before the year-end, with the benchmark heading for its best annual rise in over four decades. The Nikkei ended 38.90 points or 0.3 % lower at 15,611.31. The Australian stockmarket closed flat today amid mixed news on positive business conditions while confidence slipped. At close, the benchmark S&P/ASX200 index inched down 0.80 points or 0.02% to 5143.6 points.

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