COUNTER WATCH

• Athi River Mining – True to the prediction, locals took up shares in this company. The stock traded at KES 219, up by KES 9 from yesterday’s closing price. The amount traded was even more shocking as it stood at 150,000. Total amount that transacted was KES 32.95 million with broker commissions amounting to KES 659, ooo. Just enough money to cater for the weekend.
• Bamburi Cement – The stock also saw increased trading activity today. 2,500 shares changed hands at an average of KES 182, up by KES 2 from yesterday. Shareholders may be speculating increased profits for the second half of the year, which will come to a close at the end of this month. Reasons for speculation range from increased investor activity in the real estate sector to increased returns from provision of raw materials for road construction.

TOP TRADED COUNTERS

Safaricom stood firm with 25.4 million shares traded over the counter at an average of KES 5.05. Trailing the telecommunications company was KCB with 1.32 million shares changing ownership. News of the change in CEO to Joshua Oigara, their previous CFO, seems to still have an effect on the stock. The changes have not been in terms of price, but in volumes. The bank continues to feature amongst the top traded, showing that shareholders maintain their faith in the stock’s performance. That the stock is affordable could be pure coincidence. In third place was CIC Insurance Group with just over 677,000 shares traded and in fourth place was Equity bank with 628,200.