The Nairobi Securities Exchange today performed better yet again on both indices. The NSE 20 Share Index edging up 2.11 points to close at 4143.35 and the All-Share Index performance climbing up 0.35 points to close at 91.78
HIGHEST VOLUMES
Safaricom was the top performer today with a 9.07 Million shares traded. Kenya Commercial Bank came in second with 5.07 Million shares changing ownership. In third place was Mumias Sugar Company with 3.16 Million shares and in Fourth place was Kenya Power with 2.37 Million shares.
COUNTER WATCH
- KCB – A stocks were the second highest traded today at just over 5 million shares. Average price for the day was KES 30, down 25 cents from yesterday’s close. Our intention today was to monitor the price movement which did not make any material movement. The share volume however, more than doubled from yesterday’s 1.96 million shares.
- British American Tobacco – The share price increased to KES 467, up KES 2 from yesterday’s close. Volume traded took a nose dive to just over 100,000, one-third of yesterday’s volume. It is fast approaching the KES 500 mark and may hit it if it maintains the trend through this last quarter of the year. The company is currently the strongest oppose to a suggestion by World Health Organization to charge a minimum excise duty of 70%. Shareholders are however, confident in the stock’s value and have shot up its demand and price.
- Housing Finance – The share was the top loser at 4.92% having closed at KES 15.45. The decrease is below that of the previous day and may be a reaction to news of a profit drop by 2.7% in the third quarter for 2012. Inflation played a key factor this year and increased the cost of credit. This drove down the institution’s profit margins and the result may trigger further decrease in stock price.