Stocks Watch – 22 May 2012
At the close of trading yesterday, the NSE 20-share index stood 9.79 points up (0.25%) at 3,708.88 points to continue its upward trend.
Below are some of the counters we will be watching keenly in today’s trading:
KCB: The share of East Africa’s number one bank (in terms of profit and asset base) will be one to watch following the high trading activity the counter had last week and with the share register closing for the dividend payout closing today. As at the close of business the share price stood at KES 23.50 unchanged from its opening value.
Limuru Tea Company – The NSE’s most expensive share gained the maximum 10% in Friday’s trading to close at KES 451. The share is relatively inactive and the share price increase is definitely noteworthy. In yesterday’s trading the share price remained the same.
Eveready East Africa – The share of the battery maker lost 5.56% of its value to close the week at KES 1.70. Shareholders will take a keen interest to see if indeed their company can rebound from the lows or if there is worse to come. The share marginally improved in yesterday’s trading to close at KES 1.75. We will continue observing this counter to see whether a trend is in the offing.
Mumias Sugar Company – The share of the sugar producer has been very active for the last two-to-three weeks with the share featuring regularly as either a top gainer or a top loser in day trading. Shareholders and investors alike should keep their eyes opened on the counter of the undervalued stock today. The share closed higher at KES 5.65 per share indicating that indeed investors are keen on purchasing this stock.
Uchumi Supermarkets Limited: last week the share performed exceptionally well recording, on average, a daily increase about 2%. In yesterday’s trading the share was among the best performing closing at KES 18.50 per share, 2.78% higher than it had opened. We continue to watch how this share will perform in today’s trading.