The NSE 20 Share Index, which measures the performance of 20 blue chip counters at the Kenyan stock market yesterday closed at this year’s highest of 3,941.10 points indicating that stock prices are generally edging up this week.
Here are the shares we will be closely watching in today’s trading at the Nairobi Securities Exchange:
See a summary of yesterday’s share trading here.
- KenolKobil – The high court has blocked the sale of the petroleum marketer to Swiss Puma Energy on application by the Kenya Pipeline Company (KPC) over an alleged 2 billion shillings owed to the latter by KenolKobil for oil transportation services. This could further hurt KenolKobil’s share price which rallied yesterday after dropping 13 percent between Monday and Wednesday following the posting of a 3.8 billion shilling half year loss last week. The share was the top gainer at the NSE yesterday after climbing 9.16 percent to close at KES 14.30. We will watch to see how the blocked sale announcement affects the share’s trading today.
- Athi River Mining – The share closed the day at its highest closing price in more than 5 years at KES 214 per share. This year has seen the shares climb from the 150 shilling range in the first quarter of the year to above 200 shillings this month. We will watch the counter today to see if it beats yesteday’s high. Athi River Mining is one of Kenya’s largest cement producers.
- CIC Insurance – The shares have been on downward trend since their listing in July, moving from a price above 5 shillings to gradually dip below the 4 shilling mark over last month and into this month. They dropped 5 cents yesterday to close at KES 3.90 which is just 30 cents higher than their IPO price of KES 3.50. We will watch how they fair in today’s trading.