KSi Daily Report: Tuesday, 29 April, 2014

Tuesday’s trading session on POMSOX was active as eight stocks were traded. The Kina Securities Main Index, KSi, shed 9.65 points or 0.26% to close at 3,646.81 points. Meanwhile the Kina Securities Home Index, KSHi, remained at 8,124.24 points.

Only one stock lost but rest of stocks that were transacted stayed flat.

Oil Search Ltd (OSH) closed lower at K17.89, shedding 11 toea today despite the company reported its LNG project will start production early in the mid-year before schedule.

Those unchanged were led by junior cap miner Marengo Mining Ltd (MMC) in terms of trading volume ending at 13 toea, and Highlands Pacific Ltd (HIG) closed 21 toea. A portfolio management company Kina Asset Management Ltd (KAML) and financial stock Credit Corporation Ltd (CCP) remained at K1.05 and K2.70. Bank South Pacific Ltd (BSP) traded at K7.78 and City Pharmacy ended K1.90. A leader in agriculture New Britain Palm Oil Ltd (NBO) finished at K15.00, with the lowest in trading volume.

Today’s trading session registered a total of 38,103 units worth kina value of K30,335.09.

In overseas news, the U.S. stock market finished its overnight session generally higher. The DJIA closed 87.28 points, or 0.5%, higher at 16,448.74 points. In Japan the stock markets were closed today to observe Showa Day. The Australian share market’s seven day winning streak has ended due to significant falls in the bank and mining sectors with the benchmark S&P/ASX200 index at 5,486.60 points falling by 49.50 points or 0.89% and closed below 5,500 today.

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