Just like yesterday morning, CIC Insurance and Centum Investments are among the top gainers this morning at the NSE. CIC was the biggest gainer as at 11.50 am, it was 9.73% up at KES 12.40 a share. Centum had gained 9.09% from yesterday’s closing price to sell at KES 84.00. The Insurance sector has the top two winners this morning with Liberty Kenya Limited (formerly CFC Life) also up 9.52%. Kenya Orchards has risen 9.09% to retail at KES 48.00.
It has been a challenging morning for the Energy sector with four of the five listed companies in the sector trading at a lesser price than yesterday’s. Kenol Kobil has lost 4.17%, Total Kenya has lost 3.88%. KPLC and Kengen as at 11.50 am had also shed 0.34% and 3.24% respectively compared to yesterday’s closing price. The self listed NSE (Nairobi Securities Exchange) is down 2.78% to sell at KES 28.00.
CIC has the most pending bids. Bids are prices quoted by prospective buyers. As at 11.50 am it had over 1 million shares in pending bids ranging from KES 11.70 to 12.40 a share. The pending bids illustrate the high demand for the share, especially given that at the time it had no pending asks. Asks are prices quoted by prospective sellers. Liberty Kenya had over 235,000 shares in pending bids.
The NSE has more pending asks than bids. As at 11.50 am it had over 400,000 shares in pending asks ranging from KES 26.50 to KES 28.75.On the other hand, it had over 291,000 shares in pending bids ranging from KES 25.50 to KES 26.71. The pending asks outstripping the pending bids is indicative of more supply than demand and thus may be the reason the NSE share has shed value this morning.