At today’s NSE trading, we will be closely observing the following share counters:
- CIC Insurance Group – In their debut at the NSE yesterday, CIC Insurance Group shares closed 50 percent higher at KES 5.25 up from the list price of KES 3.50 also emerging the second most traded shares at the bourse. Read more on the CIC Insurance Group listing here. We will observe the shares of Africa’s leading co-operative insurer to see how they fair in today’s trading.
- Safaricom – After gaining three consecutive days, Safaricom shares yesterday closed at their highest price in one year gaining 2.74 percent to settle at KES 3.75 from KES 3.65 yesterday. We will keep a close eye on the counter to see if the shares rally further.
- Housing Finance – For the months to June 30th this year, Kenya’s biggest mortgage lender yesterday announced the slowest profit growth since 2008 owing to lower mortgage sales. Read more on this here. By yesterday’s close of trading the share had gained 1.31 percent to close at KES 15.45 from KES 15.25 yesterday. It was also announced yesterday that that the mortgage lender is looking to gain more revenue in property development through its subsidiary the Kenya Building Society (KBS).We will observe the counter for any effects that the announcement could have on the shares.
