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Thursday, August 17, 2017

Trading at NSE rise a day after closing for elections

Several counters hit fresh highs in Wednesday’s intra-day trading at the Nairobi Securities Exchange, signalling the market’s confidence in the August 8 General Election.

The bourse resumed trading after breaking on Tuesday. While volumes traded declined by 25 per cent at 7.7 million shares, the NSE indices continued to gain.

The NSE 20-Share Index, which tracks 20 blue chip companies, rose by 31.86 points to 3850.13. The All-Share Index (NASI) rose by 1.71 points to 160.54, a 1.1 per cent increase. The NSE 25-Share Index added 48.68 points to close at 4287.73.

CIC Group, KCB Group, Equity Group, Mumias Sugar and Kenya Power were among counters that recorded new highs during intra-day trading.

CIC Group hit an intra-day high of Sh5.40 per share and closed at Sh5.15 per share, above the hitherto 12-month high of Sh5 per share. Kenya Power hit an intra-day high of Sh9.50 per share, while KCB and Equity clocked Sh43 per share in the course of trading. Mumias Sugar touched a high of Sh1.20 per share.

Only five counters closed in the red one Wednesday, compared to 37 that were in the green.

The losing counters were Scangroup, which lost the day’s maximum of 9.47 per cent to close at Sh21.50 per share.

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