INDICES
The NSE 20 Share Index today performed 8.50 points lower to close at 3,972.03 from 3,980.53 points yesterday and the All-Share Index also rose by 0.40 points to close at 87.38 points from yesterday’s 86.98.
HIGHEST VOLUMES
Safaricom shares were once again the highest traded shares at the stock market with 9.57 million shares traded up from 7.48 million shares yesterday while second were CIC Insurance Group with 1.92 million shares. Uchumi Supermarket common stocksk were the third most traded shares with 1.06 million shares and fourth was East African Breweries Ltd with 909,600 shares.
COUNTER WATCH
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- CFC Stanbic Rights – 34,300 rights were traded today, compared to 8600 yesterday representing a 4-fold increase (approximately). As such, the turnover also increased by an estimated equal percentage to KES 162,732. The demand has hit peaks and lows this week and may affect the price with which it will float in the market as we approach the closing date, 8th of October. CFC Stanbic Holdings is carrying out the rights issue to raise 4 billion shillings to expand their subsidiary.
- Unga Group – The shares closed at KES 13.75, a drop from yesterday’s KES 15.15. It was the biggest loser in the market today with a fall equating to 9.24% (as indicated above). The fall might have been caused by decreased demand resulting from the Director’s recommendation of a first and final payment of KES 0.75 per share. This might be a sign of a fall in share price to come in the coming week.
- Kenya Airways – The shares rallied to KES 12.00 and a volume of 159,300 were traded. The company’s has announcement seems not to phase the share price as they maintained the same price in the market. The general trend this year is however a decrease in price as the share nears the single-digit figures.