KSi Daily Report: Wednesday, 26 November 2014

Both Kina Securities stock indices closed higher, helped by an agricultural stock that advanced on POMSoX today. The Kina Securities Main index KSi collected 24.12 points (+0.67%) to 3,647.12 points and the Home index KSHi rose 417.80 points, an 4.42% jump to 9,860.66 points.

Wednesday’s session recorded only one gain with no losses.

New Britain Palm Oil Ltd (NBO) made the biggest impact on the indices gaining a massive K2.45 as the Agricultural stock ended at K27.95 despite low trading volume.

Stocks that traded unchanged for the day were the financials Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) ending at K7.12 and K2.55 respectively, followed by City Pharmacy Ltd (CPL) at K1.44 flat.

POMSoX registered a total of 5,559 units traded worth K32,823.65.

U.S. stocks ended the overnight trading session marginally lower, snapping a three-day run on the major indices. The Dow Jones Industrial Average slipped 2.96 points (-0.02%)to 17,814.94 points as stocks traded in a narrow range, amid a variety of economic data highlighted by a surprise rise in consumer confidence. Similarly The Japanese Nikkei share average slipped 24.04 points (-0.14%) at 17,383.58 points as stocks ticked down on Wednesday on anxiety about key economic data due on Friday. Meanwhile, the Australian stock market has enjoyed its second strong day for the week, led by the banks and major miners despite yet another slump in the price of iron ore. The benchmark S&P/ASX200 added 61.4 points (+1.15%) to close at the day’s high of 5,396.20 points.

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