As at the close of trading yesterday the NSE 20-share index stood at 3,678.02 as compared to yesterday’s level of 3,672.3. The NSE All share index stood at 79.14 down 0.37 points from yesterday’s close of 79.51 points. The number of shares traded stood at 27.2 million while the value of these shares stood at KES 331.88 million.
In today’s trading we will be watching the following stocks:
Uchumi Supermarkets Limited: Last week’s exceptional performance which has continued on into this week. On Monday the share rose to KES 18.50, on Tuesday it rose to KES 19.05 and closed at KES 19.35 yesterday. We continue watching this share to see how much higher the price can go and further hypothesize on what may be propelling this increase.
Mumias Sugar Company: As we had mentioned earlier, the share is grossly undervalued. As per our analysis the share should be trading between KES 12 and KES 17 not at its current KES 5.70 per share. As if in line with this the share has steadily been increasing in value over the last week. We will be watching this counter to see whether our analysis proves true in the long run. At the close of trading yesterday the share had gained 5 cents to close at KES 5.75 per share.
EABL: The 52 two week high level of the share stood at KES 220, on Tuesday the share hit the KES 219 mark and stood unchanged yesterday. We observe this counter to see whether there will be any activity today and whether the activity will be as noteworthy as Tuesday’s.