Stocks Watch – 23 May 2012

The Nairobi Securities Exchange 20 share index yesterday closed at 3,672.31 points to end the recent climb it has been having of late, down 0.986% from the previous day's close of 3,708.88 points.

Below are some of the shares we are 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 has had thus far. As at the close of business yesterday, the share price stood at KES 21.75, down KES 1.75 (7.45%) with 1.31 million shares being traded.

CFC Insurance Holdings: The counter has had moderate-to-minimal activity in the recent weeks but yesterday increased 4.58% to feature among the top gainers to close at KES 8 per share. The share price is far from the 52 week high of KES 17.50 and offers potential for growth.

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 at 5 cents up at KES 5.70 with 1.84 million shares trading in 86 bids highlighting the revived interest in the stock.

Uchumi Supermarkets Limited: last week the share performed exceptionally well recording, on average, a daily increase about 2%. The share closed at KES 19.05, improving 55 cents from the previous day's closing price of KES 18.50. We continue to watch how the share will perform.

East African Breweries Limited: While the share price of Kenya's largest brewer increased a moderate 1.85%, the shilling-gain was KES 4 per share with 252,600 shares being traded in 28 bids. The share is just KES 1 shy of the one year high of KES 220 and we will pay close attention to the share to see if indeed it can surpass and establish a new 52 week high.

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