The winners
Eveready East Africa continued with its morning trend to end the day as the top gainer with a rise of 78%. Investors reacted positively to news that the battery maker was closing its Nakuru factory in a bid to cut costs. The firm intends to venture into real estate by developing structures for lease or rent on its land in Nakuru. The contribution of real estate sector to Kenya’s gross domestic product (GDP) has more than doubled to 10.6 per cent from the previous 4.9 per cent.
Other stocks that appreciated today are Jubilee Insurance (JUB), Olympia Capital Holdings (OCH), Marshals East Africa (MASH) and Longhorn Publishers (LKL). They rose 9.91%, 9.82%, 9.64% and 9.57% respectively as compared to yesterday’s closing price.
The losers
The construction segment provided the two shares that depreciated the most in prices today. Bamburi cement down 8.78% and Athi Rver Mining which lost 3.91% to close the day at KES 86.00. Equity Bank, Eaagads the coffee grower and Kengen made the top five price decliners.
The most traded
Safaricom was the most liquid counter (share). It saw over 11 million shares exchange hands today. Behind it was Equity bank with over 4.8 million shares changing hands. Kenya Commercial Bank (KCB), Co-operative Bank and Kenol-Kobil rounded up the list of most traded shares.
Bids and Asks
Bids are prices quoted by prospective buyers while asks are prices quoted by prospective sellers. Pending bids/asks are those that are yet to get a match. They can be used as an indicator of the direction the price of a counter will take.
Bamburi cement had 3400 shares in pending asks compared to over 35000 shares in pending bids. Safaricom Kenya limited had the most pending asks/bids.
