KSi Daily Report: Tuesday, 19 November 2013

Both Kina Securities stock indices advanced amid active trading session on POMSoX today as a few stocks improved. The main index, the KSi, added 2.13 points or 0.06% to 3,832.16 points. Meanwhile, the home index or the KSHi advanced 11.17 points or 0.14% at 8,230.45 points.

On POMSoX today, two stocks rose against none that posted decline.

Bank South Pacific Ltd (BSP) and Marengo Mining Ltd (MMC) gained, both collecting 2toea each in moderate trading volumes. BSP completed at K8.01 and MMC at 20 toea.

New Britain Palm Oil Ltd (NBO), the largest agricultural company led the unchanged trade in terms of market capitalization closed at K15.00 flat. City Pharmacy Ltd (CPL) evened at K1.95, the highest level in the listing history. Followed closely were the financials; Kina Asset Management Ltd (KAM) and Credit Corporation Ltd (CCP) at K1.10 & K2.60 respectively.

Today’s session registered a considerable volume of 103,865 shares at a monetary value of K427,747.36.

Markets abroad, U.S. stocks closed mostly lower overnight after dropping to session lows on bearish comments from well-known investor but managed to recover from before close of market. The Dow Jones Industrial Average scored a record closing high, rising 14.32 points, or 0.1%, to end at 15,796.02. Meanwhile, Japan’s Nikkei share average retreated 37.74 points (- 0.25%) to 15,126.56 points on Tuesday as financials took a breather after their recent earnings-led rally. Likewise, Australian shares closed lower for a second straight day as investors sold banking stocks on uncertainty on when the U.S. central bank will start tapering its stimulus growth. The S&P/ASX 200 dropped 31.80 points (-0.59%) at 5,352.90 points today.

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