Stocks We Are Watching Today

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 activity here.

  • NIC Bank Rights – Today is the last day that the NIC Rights will trade. Thereafter, holders of the rights will have to take them up. Learn more about this here. They closed yesterday at KES 13.05 per right having dropped by 1.5 shillings from Wednesday’s KES 14.55. From late last week into early this week, the rights were the top performers at the stock market, gaining more than 4 shillings in the period. We will observe how they perform on their last day of trading.
  • Pan Africa Insurance Holdings – The share closed yesterday at its highest since mid last year at KES 41.75 after gaining 6.4 percent from its previous price of KES 39.25. It was also the most traded share with 3.4 million shares traded in the day. The share’s price has doubled since April in what news reports have attributed to the announcement by Sanlam to increase their stake in Pan Africa from 50 to 60 percent. We will observe if it tops yesterday’s high today.
  • British American Tobacco – After peaking at a record high of KES 415 last week and once again this week, the share appears to have ran out of steam having declined for the past two days down to KES 401 yesterday. We will observe how it fairs today.
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