The performance of the Nairobi Securities Exchange was better today having crossed the 4000 mark. The NSE 20 Share Index performance was up 34.47 points to close at 4029.50. The All-Share Index performance was also up 0.18 points to close at 87.89
HIGHEST VOLUMES
Kenya Airways was the highest traded counter today with 2.36 million shares traded while second was Mumias Sugar Company with 2.28 million shares. Safaricom Ltd was third with 1.30 Million shares changing hands, and Equity Bank was fourth with 1.03 million shares trading.
COUNTER WATCH
- TPS Eastern Africa (Serena) – The shares closed KES 1 down from Friday’s KES 39.50. The company on Friday announced that it wants to acquire 79.19% of TPS (Uganda) Ltd from the Aga Khan Fund for Economic Development and the National Social Security Fund (Uganda) who own these shares. The proposed takeover deal is subject to CMA approval & an Extraordinary General Meeting of TPS Eastern Africa shareholders on a date to be announced. TPS E.A.
- Kenya Airways – The national carrier’s counter closed lower than last week Friday at KES 11.75. This share price dip comes at a time when the airline has been granted approval to launch its budget airline subsidiary, Jambo Jet. Jambo Jet will serve the regional routes to Wajir, Eldoret, Hargesia, Kisumu, Kigali, Mayotte, Addis Ababa, Mwanza and Antananarivo and offer low fares to compete with current competitors such as Fly540 which is revamping to Fastjet with lower fares.
- Uchumi – The share edged even higher today and was one of the top gainers (as shown in the above table). It closed at KES 19.65, 60 cents higher than the closing price on Friday. From September, the share has rallied to gain 27% from a range slightly above KES 15 per share to almost touch the 20 shilling mark on speculation that the retail chain will this month announce full year profit, according to a Bloomberg news report.