EABL share closes at 4-year low on foreign investor profit-taking

Listed beer-maker East African Breweries Ltd yesterday saw its share price close at a four-year low on foreign investor selling.

The brewer’s share traded at an average Sh233 per unit, with 126,300 shares changing hands down from Sh235 in previous trading.

The counter has shed 10 per cent in the last month with foreign investors the main sellers.

Market turnover rose to Sh628 million, double the total trade values for Monday, and above the Sh500 million mark which has been rare this year.

“Market activity improved with the re-entry of foreign investors in Safaricom and KCB Group,” said analysts at Sterling Capital.

There were 32,268,500 shares traded up from 12,514,600 in the previous trading session. The indicative 20 share index remained flat at 3084.1 points receiving support from telco giant Safaricom whose share price was stagnant at Sh19 per unit.

Safaricom was the largest mover with 29,680,500 shares valued at Sh412.9 million traded.

Other top movers in yesterday’s trading include KCB which traded 3,686,000 shares at an average Sh28.50 and electricity distributor Kenya Power, which traded 1,511,800 units at Sh8.10 each.

Agricultural firm Sasini reversed its losses following issuance of a profit warning last week to gain 4.08 per cent at an average of Sh17.85.