NSE investor wealth up by Sh5.2bn on one-day share rally
A Nairobi Securities Exchange staff (left) attends to a customer at the bourse. PHOTO | FILE
Investors at the Nairobi Securities Exchange (NSE) saw their wealth rise by Sh5.2 billion in a single day Thursday to stand at a total of Sh2.054 trillion.
Among the companies whose share prices rose were Safaricom which was up 10 cents to Sh16.50, Crown Paints up Sh5.50 to Sh62 and East African Portland up Sh4 to Sh45.50.
Coop Bank share price did not change despite reporting a 36.6 per cent increase in earnings per share before trading began Thursday.
Kakuzi’s price rose by Sh15 a share to stand at Sh316 on the back of robust financial results where the earnings per share were up 229.4 per cent to Sh26.92 and dividend per share was up 33.3 per cent to Sh5.00.
“The improved profitability was driven to some extent by weather conditions as well as favourable market demand for the main avocado exports,” said Standard Investment Bank (SIB) in analysis.
The SIB also noted that “the weakening of the shilling by about 12 per cent had a particularly positive impact. Gross margins improved from 36.0 per cent to 51.4 per cent, with operating profit margins climbing from 8.8 per cent to 26.1 per cent.”
Losers in Thursday’s trading included Limuru Tea to stand at Sh799 from Sh840 the previous day and Williamson Tea at Sh189 from Sh191 the previous day. Diamond Trust Bank lost Sh6 to stand at Sh215 Thursday.
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Note: The results are not exact but very close to the actual.
