Kenya Market Wrap – Kenyan Stocks Hit Historic Lows
Trading on Wednesday 11th March saw 16,562,600 shares traded at the Nairobi bourse with Safaricom recording a total of 12.5 million shares traded. The Telecommunication giant also saw activity in the derivatives market trading 5 contracts worth KSh 139,250.
CIC Insurance Group Ltd hit an all-time low of KSh 2.30, closing the day at Ksh 2.40 from Tuesday’s KSh 2.43. Over the last 52 weeks, the shares have traded at between a high of Ksh 4.20 and Wednesday’s low of Ksh 2.30.
Kenya Airways, who recently confirmed Mr. Allan Kilavuka as the Group Managing Director & CEO effective April 1st 2020 , saw an all time share price low of KSh 1.76 ending the day at KSh 1.88. KQ shares closed at KSh 2.25 a week earlier on 4th march 2020.
Bamburi Cement Ltd saw a share price depreciation of 6.36% at the end of trading, hitting a 17 year low of KSh 50.00 during the day, to close at KSh 51.50. Tuesday’s top gainer Home Africa dropped 6.98% closing the day at KSh 0.40.
Investment giant, Centum Investment Company Ltd saw a share price depreciation to a 7 year low of Ksh 23.20 during the day to close at 24.40 from Tuesday’s Ksh 24.35
KPLC saw a share price depreciation to an all-time low of KSh 2.10 closing the day at Ksh 2.13. KPLC’s net earnings took a nosedive to KSh 262 million for the financial year ended 30th June 2019 compared to KSh 3.3 billion posted in the previous period.
Standard Group Plc was the biggest loser of the day shedding off 9.29% of share price value to close at Ksh. 21.00. Counterpart Nation Media Group hit an all time low of KSh 27.00 during the day closing at KSh 28.20 compared to KSh 28.05 on Tuesday. The company’s share price has shown slight deviation over the last month closing at KSh 35.35 as of 12th February.
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