INDICES

The NSE All-Share Index today lost 0.13 points to close at 82.18 points from last week’s close of 82.31 points while the NSE 20-Share Index closed down 2.26 points at 3,791.06 from 3,793.32 points yesterday.

HIGHEST VOLUMES

Cooperative Bank had the highest share activity today with 2.11 million shares traded today up 1.02 million shares traded from Friday’s 1.09 million shares. Safaricom was the second most traded share, with 1.25 million shares traded up 894,700 shares traded from Friday’s trading. Mumias Sugar followed with 1.06 million shares moving across the counter. Fourth was Kenya Airways which had 647,700 shares traded while Kenya Power & Lighting Company shares were the fifth most traded today.

COUNTER WATCHLIST

• Williamson Tea – The tea grower’s share was today a top loser, closing down for a third consecutive day to lose 25 shillings(9.25%) and close at KES 245 from KES 270 on Friday last week. It emerged today that the company could face compromised earnings following threatened tea exports to Iran, a main export market for Kenya tea, after US trade sanctions have diminished Iran’s US dollars used to import Kenya tea among other goods (Business Daily).
• KenolKobil – The petroleum marketer today closed down 15 cents returning to KES 15.85 similar to the price on Thursday last week KES 15.85. Today’s Business Daily reported that the majority shareholders of the firm have agreed to sell their shares while minority shareholders will have no choice but to give up their stake at an agreed price in the petroleum marketer’s planned takeover by Switzerland’s Puma Energy which now has court approval. The share gained 15 cents on Friday after losing on Wednesday and Thursday closing at KES 16.00 from KES 15.85 on Thursday
• Barclays Bank – After gaining for two consecutive days, the share closed down 5 cents today at KES 13.50 from KES 13.55 on Friday. Last week, Pesatalk reported that the bank cut its lending rate to 21 percent from 22.5 percent following the CBK’s base lending rate reduction on Thursday. Barclays was the first bank to publicly announce a cut in its loan rate after the CBK reduced the base lending rate to 16.5 percent from 18 percent on Thursday last week.
• Kakuzi – Alongside other tea growers Sasini and Williamson Tea, Kakuzi was a loser today, shedding 1 shilling from its share price to close at KES 74.00 from KES 75.00 on Friday last week.