KSi Daily Report: Tuesday, 6 May 2014

POMSoX trading was modestly active for Tuesday’s session with the Kina Securities main index, the KSi, remaining steady at 3,919.25 points at the close. Likewise, the home index or the KSHi was also unchanged at 8,304.15 points.

All seven stocks that transacted ended flat.

Bank South Pacific Ltd (BSP) was traded even at K7.70 followed by another financial Credit Corporation Ltd (CCP) which completed at K2.70 flat. Oil Search Ltd (OSH) ended the day still strong at K18.00. NGIP Agmark Ltd (NGP) and Newcrest Mining Ltd (NCM) closed 80 toea and K25.00 respectively. Also traded were the junior cap miners Marengo Mining Ltd (MMC) at 13 toea even and Highlands Pacific Ltd (HIG) unmoved at 20toea.

Tuesday’s total trades registered a considerable volume of 130,620 shares valued at K116,367.74.

In overseas news, U.S. stocks closed higher on overnight trading as investors shrugged off earlier worries over the slowing economy in China and deteriorating situation in Ukraine. The Dow Jones Industrial Average gained of 17.66 points, or 0.1%, to 16,530.55 with a better-than-expected report on the health of the services sector appeared to have aided markets. Meanwhile, Japan’s stock markets were closed to for public holidays to observe children’s Day and greenery Day, markets to be resumed by tomorrow. In Australia, share market has closed higher as investors remain optimistic about the local economy. The S&P/ASX 200 added 19.20 points or 0.35% at 5,481.40 points by close of market today. The Reserve Bank is reportedly left the cash rate at a record low of 2.5 per cent for the ninth consecutive month today on positive outlook on employment.

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