KSi Daily Report: Wednesday, 17 September 2014

Both Kina Securities Indices closed steady after POMSOX resumed trading from the Independence day holiday in mid-week. The Main Index KSi was unchanged at 3,746.79 points similarly The Home Index KSHi closed at 8,065.08 points.

All stocks traded were unchanged.

City Pharmacy Ltd (CPL) led the trading at K1.50, followed by the only bank stock Bank South Pacific Ltd (BSP) at K7.20 flat and Oil Search Ltd (OSH) at K19.21 even.

Total volume registered today low volume of 5,775 units at a share value of K22,618.61.

In markets abroad, U.S stocks ended the session higher ahead of Feb meeting sending the Dow Jones Industrial Average to an intraday record high recording its biggest one-day gain in 4 weeks. The DJIA advanced 100.83 points or 0.59% to end at 17,131.97 points. The Nikkei rebounded on expectations the Federal Reserve will retain low interest rates. Japan’s Nikkei share average was flat at 15,913 points. However, Australian shares dropped sharply for a fifth straight week led by weakness from the mining sector due to falling iron ore. The benchmark S&P/ASX 200 index fell 44.26 points or 0.81% to close at 5,401.10 points today.

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