KSi Daily Report: Tuesday, 30 May 2017

POMSoX tacked on gains to push both Kina Securities indices to higher ground on Tuesday. The. The Main Index or KSi was up by 0.34 points (0.01%) at 4,881.57 points at the close while the home index or KSHi advanced 9.85 points or 0.09% to complete at 11,113.89 points.
One stock gained to nil losses.
Leading financial stocks in terms of market capitalization Bank South Pacific Ltd (BSP) moved further higher by a toea today at K9.56. The company announced on Friday, that the Group again recorded very positive outcomes in 2016 with a net profit after tax of K643.5m, an increase of K111.6m on the 2015 result with a dividend payment of 79 toea per share on the 23rd of June 2017.
Other stocks remained unchanged were Credit Corporation Ltd (CCP) at K1.79 followed by Oil Search Ltd (OSH) maintaining a strong hold at K18.01 flat and Kina Securities Ltd (KSL) at K2.60 even.
Tuesday’s session recorded a total of 9,393 units valued at K51,630.52.
In Overseas news, US markets were closed in observance of Memorial Day. Meanwhile, Japan’s Nikkei share average slipped 4.72 points or 0.02% to 19,677.85 points on Tuesday, with the equity market feeling downward pressure from a stronger yen, which hurts big manufacturers’ export revenues. However, The Australian S&P/ASX 200 index was up by 15.90 points or 0.28% at 5,723.00 points after bargain hunting among the oversold big banks as well as gains in the miners offset falls in telcos and energy stocks to spark a 50-point afternoon rally in the ASX, taking it away from a three-month low it plumbed in early trade.