KSi Daily Report: Wednesday, 12 March 2014

Both Kina Securities stock indices extended their gains for the second consecutive session on POMSoX Wednesday. The main index, the KSi, added 4.32 points (+0.12%) to finish at 3,617.20 points. Similarly, the home index or the KSHi completed at 8,038.54 points, up 13.95 points (+0.39%) at the close.

There were two stocks that gained against an equal number that fell.

Heavily weighted agricultural stock, New Britain Palm Oil Ltd (NBO) improved by 50 toea to end at K15.00, followed by Oil Search Ltd (OSH) which continued its upward path by a toea at K17.57. The gains contributed to the indices closing in higher territory despite home-stocks losses on the local bourse.

Stocks that headed the opposite direction were the two financials, Bank South Pacific Ltd (BSP) was down by 10 toea at K7.70 and Credit Corporation Ltd (CCP) weakened 5 toea to K2.55.

Marengo Mining Ltd (MMC) was the only stock that traded unchanged at 14 toea.

Wednesday’s trades registered a total volume of 97,117 shares valued at K242,1089.09.

In markets abroad, U.S stocks ended the choppy session lower as investors take pause in a day light of economic data releases. The Dow Jones Industrial Average declined 67.43 points, 0.41%, closing at 16,351.25 points. Asian stocks slid with emerging market and commodity-linked amid concern on China’s economy. Japan’s Nikkei share average shedding 394 points or 2.59% to 14,830 points at the close. Australia’s sharemarket was also on the red with the S&P/ASX 200 declining 29.64 points, 0.55% lower at 5,384.20 points today.

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