The Nairobi Securities Exchange experienced its best performance this year having made significant movement upwards today. Both indices picked their way upwards with the NSE 20 Share Index edging up 22.76 points to close at 4095.26 and the All-Share Index performance climbing up 0.50 points to close at 90.28
HIGHEST VOLUMES
Kenya Commercial Bank took the spot of top performer with 3.11 million shares changing hands today. In second place was Equity Bank with 3.08 Million shares and third highest counter performance was by CFC Stanbic with 3.01 Million shares changing ownership. Kenya Airways was the top loser despite trading a whooping 2.43 million shares to rest at fourth place, each share trading at KES 12.05.
COUNTER WATCH
- KCB – The share closed at KES 29.50, up 25 cents from the previous day. The volume traded also went up almost 10-fold to 3.1 million, a massive difference from yesterday’s 300,000. The counter is still trading within the highest price range it has experienced in the last three years and may continue rising as it has through the year. This reaction from investors could be in anticipation of the stock crossing the KES 30 mark after the bank received an award. This recognition was given during the Think Business Capital Markets Awards where it was ranked as the best performing stock in 2012.
- Standard Chartered Bank – The counter experienced transactions totaling KES 1.28 Million, with each share going for KES 221, the same price as yesterday’s close. The stability in the share’s price might be a result of dying demand for the rights that are scheduled to end on two days from now, on Friday 26 October, 2012. There was barely any spread for the investors to profit from thus not much action was seen by the counter.
- NIC Bank – There was decreased demand for the stock as only 48,200 shares changed hands compared to 72,000 yesterday. Much like the Standard Chartered shares, the price was maintained at KES 35.25 for a second consecutive day. Public listing of the stock that was offered via rights issue occurred yesterday but was received with neutral effect by local investors. These investors did not alter their valuation of the stock and stuck to their guns today.