Performance in the Nairobi Securities Exchange took another leap forward today. The 20-Share Index closed at 4159.73, up 10.94 points from yesterday. The All-share index followed suite closing at 92.94, up 1.11 point from yesterday.
HIGHEST VOLUMES
Safaricom was the highest performer with a stunning 7.98 million shares changing ownership. KenolKobil made an appearance at second place with 4.63 million shares trading over the counter. This resulted in a market capitalization of KES 22 Billion. Uchumi supermarkets took third spot with 2.13 million shares but having closed at KES 19.45, down from yesterday’s 19.65. Mumias Sugar scooped fourth place with a close of 1.72 million shares traded.
COUNTER WATCH
- Safaricom Limited – The counter closed at KES 4.80, a 7.87% increase from that of yesterday and second highest gainer for the day. By volume, it was the top traded counter at 7.98 million shares. Investor appetite for the stock is increasing by the day and it has pushed the price closer to the KES 5 mark. The bullish ride may last for a couple of days.
- Barclays Bank of Kenya – The stock was valued at KES 15.35 by the end of business today. This was a 1.6% decrease in price from yesterday’s close. The spread in the market today was between KES 14.10 and KES 15.60. Some shareholders remain adamant about disposing of the stock, but this has not stopped its price form dropping further.
On a side note, Kenya Airways shares traded at KES 11.70, an improvement by 4.46% today. The loss of KES 4.8 Billion seems not to phase some investors. Neither does potential competition from Fastjet which will launch low-cost flights for local tourism in Kenya, a move that will eat into Kenya Airway’s revenue.