INDICES
The NSE 20 Share Index today gained 0.38 percent to 3,942.40 points from Friday’s 3,927.44 points while the All Share Index gained 0.14 percent to 86.29 points from 86.41 points previously.
HIGHEST VOLUMES
KCB shares were today the most traded with 4.35 million shares while Mumias Sugar was second with 2.78 million shares. CIC Insurance were third most traded with 2.74 million shares while Equity Bank was the fourth most traded share with 1.30 million shares across the counter.
COUNTER WATCH
- Kenya Airways – The shares gained 30 cents from Friday’s 5 year low of KES 11.50 to close today at KES 11.80. The share had dropped 14 percent over the course of last week on what we think was on the back of negative publicity involving recent staff layoffs and higher executive pay by the national carrier.
- Tea Counters – News reports today revealed that rising tea buying prices at the Mombasa auction are expected to lead to higher earnings for East African tea growers this year. Kapchorua Tea led the pack at the stock market, rising 6.84 percent to close at KES 125 indicating that the share could be climbing back to trade in the 130 shilling range where it had traded from August to mid this month until it declined to KES 117 where it remained until today. Sasini was the 7th biggest gainer at the bourse gaining 1.75 percent to close at KES 11.60 which is its second highest close since early August. Limuru Tea was stable at KES 450 where it has closed for the past four months while Williamson Tea dropped 1 shilling to close at KES 204. Kakuzi trailed as the 10th biggest loser dropping 0.68 percent to KES 72.50 from Friday’s close at KES 73.00.