KSi Daily Report: Wednesday, 9 October 2013

Both Kina Securities stock indices stayed unchanged for second consecutive session as POMSoX closed Wednesday. The main index or KSi was steady at 3,955.083 points, likewise, the home index or KSHi remained at 8,327.85 points.

Five stocks recorded trades today, however, all stayed unchanged at close of session.

Two home stocks on POMSoX, City Pharmacy Ltd (CPL) and Credit Corporation (CCP) remained strong at K1.90 and K2.60 respectively. Followed closely were New Britain Palm Oil Ltd (NBO) completed K15.59 flat and Kina Petroleum Ltd (KPL) closed 90 toea even. Meanwhile, Bank South Pacific Ltd (BSP) had traded lower earlier in the session but recovered to close flat at K8.03 on moderate trading volume.

Today’s trading session registered a combined volume of 37,060 shares valued at K239,204.78.

In overseas, the Dow Jones Industrial Average closed lower at 14,776.50 points on Thursday, down 159.71 points or 1.07% with the lingering effects of the partial shutdown. In Asian markets, Japan’s Nikkei share average recovered from a five-week low on Wednesday and gained 143.23 points (+1.03%) at 14,037.84 points, helped by news that President Barack Obama has tapped Federal Reserve Vice Chair Janet Yellen to head the U.S. central bank. The news removed some uncertainty hanging over the market and helped risk appetite, weakening the yen against the dollar. Likewise, Australian stocks rebounded with the S&P/ASX 200 collecting 3.60 points (+0.07%) at 5,153.00 points after reports on US President’s announcement on new Federal Reserve boss.

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