KSi Daily Report: Wednesday, 23 April 2014

Wednesday’s trading on POMSOX was active as seven stocks were traded. The Kina Securities Main Index, KSi, closed steady whilst the Home Index or KSHi was cut 34.11 points (-0.94%) to 8,124.28 points.

There was one loss against a gain compared to six that ended steady.

A leader in oil and gas production in PNG, Oil Search Ltd (OSH) completed at K17.89, adding three toea as the shares are very much sought.

New Britain Palm Oil Ltd (NBO), heavy weighted agricultural company in PNG shed 20 toea at K15.00.

The unchanged were led by junior cap miner Marengo Mining Ltd (MMC) in terms of trading volume at 13 toea, followed by City Pharmacy Ltd that stayed put at K1.90. A portfolio Management stock Kina Asset Management Ltd (KAM) was steady at K1.05. Meanwhile financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) also remained at K7.78 and K2.70 at the close.

Total shares registered today were 113,114 units worth of K135,836.85.

In U.S, stocks rose on Tuesday as a result of solid earnings reports along with the strength of the healthcare sector, giving Wall street sixth straight gains. The Dow Jones Industrial Average rose 65.12 points, 0.40% to end at 16,514.37. Asian stocks moved on Wednesday after Chinese manufacturing survey PMI met expectations. The Nikkei share average collected 158 points or 1.09% to close at 14,546. Australian share market closed higher following positive lead from Wall Street with the benchmark S&P/ASX 200 adding 35.49 points or 0.65% to close the market at 5,514.80 points.

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