Investors Diary

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Wednesday, February 7, 2007

Trading Improves at NSE with mixed prices

Mixed prices at NSE as trading improves
By Washington Gikunju

The recent slump trading at the Nairobi Stock exchange (NSE) appears to be nearing stabilisation, with a slight improvement recorded in the number of shares traded.
Turnover, however, dropped to Sh343 million on 5.6 million shares, against Sh351 million on 4.6 million shares recorded in Monday’s trading.
The fall in the NSE 20 share index also seemed to stem with only 4.73 points lost in Tuesday’s trading, which closed at 5628.88 points. The index linked stocks recorded mixed trends.
Market capitalisation registered a slight upturn, closing the day at Sh801 billion, up from Monday’s figure of Sh800 billion.
On a day it announced acquisition of Shell Ethiopia operations comprising of 81 service stations and two terminals, Kenya oil Company (Kenol) gained Sh2.5, to move 23,800 shares at an average price of Sh102.
Equity Bank was the day’s highest gainer, moving 155,000 shares at an average price of Sh217, Sh17 higher than Monday’s closing price. East African Breweries gained Sh7, moving 101,765 shares at an average price of Sh154. CMC Holdings moved 112,500 shares at an improved price of Sh164, up from Sh159 recorded on previously.
Bamburi Cement lost Sh10 to settle at Sh214, while CFC Bank lost Sh29 to move 100 shares at Sh270. In the agricultural sector, Sasini Tea and Coffee lost Sh4 to move 22,300 shares at Sh132.
The Mumias counter, which has recorded increased activity, traded a massive 1.5 million shares at between Sh43 and Sh40.
KenGen and ICDCI were the other big movers, trading 857,000 shares at Sh22 and 727,000 shares at Sh30.25 respectively. Scangroup fluctuated at between Sh21.75 and Sh24.25 on a volume of 619,000 shares.
The bonds market registered a turnover of Sh389 million, having recorded no activity in Monday’s trading.

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