At the close of trading at the NSE yesterday, the NSE 20-share index stood at 3,657.01 while the All-share index stood at 78.43. The total number of shares traded stood at 10.855 million in 1186 deals. The equity turnover stood at KES 163.55 million.
In today’s trading we will be observing the following counters:
- Longhorn Kenya Limited: we continue observing this counter from last week as its exceptional performance during the week was definitely worth watching. Yesterday, the share closed 2.60% higher at KES 19.75 as compared to KES 19.25 on Friday.
- Kenya Airways: On Friday the airline announced the results of its rights issue. The news that the issue received a 70% subscription. This news has been received with the expectation that the share price will be driven down by dilution. Consequently it seems that investors have been selling their shares in the airline as the share price fell 1.75% to close at KES 14, down from KES 14.25 on Friday. It is also worth noting that the share price dipped below the KES 14 mark during the course of trading.
- Express Limited: the logistics company yesterday registered the highest gain, climbing 6.76% to close at KES 3.95 per share. This is 25 cents higher than the level it closed at on Friday. We will be watching this counter over the course of the week to note how much higher it may rise.
- Kenya Reinsurance: this counter registered the largest drop closing 16.40% lower than it had opened. The share closed at KES 10.45 down from KES 12.50 on Friday. We will observe the share to see whether the decline will continue and perhaps speculate on why this may be the case.