Performance in the Nairobi Securities Exchange was generally better. The NSE 20-Share Index closed at 4148.79, up 27.66 points from yesterday. The All-share index followed suite closing at 91.83, up 0.01 point from yesterday.
HIGHEST VOLUMES
Kenya Commercial Bank was the highest performer with 3.08 million shares changing ownership. Second place went to Safaricom limited which closed having traded 2.48 million shares over the counter. Britam took third spot with 2.03 million shares but having closed at KES 6.35, up from yesterday’s 6.10. Despite news of drop in profits, Barclays Bank of Kenya scooped fourth place (again) with a close of 1.27 million shares traded.
COUNTER WATCH
- Kenya Airways – The share closed lower at KES 11.20, down 20 cents from yesterday’s close of KES 11.40. This is the second consecutive day the stock has declined in performance. The airline has, within the 6 months, fired many employees in a cost-cutting exercise and purchased new planes. The loss of 4.8 Billion will trickle down directly to those with a stake in the airlines operations. Shareholders are currently dumping their shares to avoid further loss in value.
- · Safaricom Limited – The Company has recorded a 94% jump in net income and a general increase in turnover in its first half. This forced the price to shoot up to KES 4.55, the highest the counter has seen in the past 52 weeks. The day however, came to a close with the stock trading at an average of KES 4.45 (same price as yesterday) and a volume of 2.4 million shares changing hands (down from 39 million yesterday). Many shareholders will be holding onto the stock in readiness for the second half where income may increase further.