“The NSE endeavours to build on its existing suite if products and services in order to meet the evolving needs of our domestic and international investors” – Mr.Bob Karina, Vice Chairman of the Nairobi Securities Exchange.
There was yet another dip yesterday at the Nairobi Securities Exchange as the All-share index plunged further in its performance by 0.29 points. This meant that the general performance of the listed companies decreased despite a few improvements by some counters. We shall maintain our watch on Eaagads and add Standard Chartered Bank to the list.
- Eaagads – The stock has made a constant appearance among the top losers for many days. It closed at KES 24.75 yesterday with double the number of shares (at 400) being disposed of. As mentioned in yesterday’s stocks watch, this should be a signal to any shareholder to get their hands out of the stock while they can. This shedding however, comes at a time when the shareholders are expecting a dividend payout at the end of the week. We shall keep an eye out for material price movement.
- Standard Chartered – The bank last month concluded a rights issue that saw an oversubscription of 158.4%. Yesterday, the stock was trading at KES 231 with a total of 3,300 shares changing ownership. The announcement of the rights issue results may have an effect on the stock’s current market valuation. We shall keep an eye on both the volumes traded and the price at which the counter shall close today.