STOCKS

Dividend Prospects Fuel Action on Kenya Re Counter

BT CorrespondentOct 1, 20201 Mins read3k

The excitement on Kenya Re’s counter has been prompted by investors positioning themselves to earn a dividend. [ Photo / Metropoltv ]

Kenya Reinsurance Corporation was the prime on Thursday at the Nairobi Securities Exchange,with a volume of 3.49 million shares changing hands.

With a market capitalization of Ksh6.72 billion, Kenya Re is set to close its books on 9^th October 2020. The excitement on this counter has been prompted by investors positioning themselves to earn a dividend.

Kenya Re share price remained steady at Ksh2.40 with a turnover of Ksh8.4 million from 60 deals on a volume of 3.49 million shares. Kenya Re share price and dividend are fairly stable.

The other top mover was Safaricom, with a market capitalization of Ksh1.19 trillion, trading a volume of 1.95 million shares with 81.0% participation by foreign investors. Safaricom shares price rose to Ksh29.80 from the previous Ksh29.70 on a volume of 1.95 million and a turnover of Ksh58.12 million.

KCB was the third most active mover with a volume of 875,600 shares trading at a price of Ksh39.10 in 58 deals that resulted in a turnover of Ksh34.23 million with 74% of participation in the counter driven by foreign investors.

The lender was followed by KenGen with a volume of 836,300 at the price of Ksh 5.10, turnover of KSsh 4.26 Million in 50 deals.

Kenya Power closed the top 5 counters with a turnover of Ksh782,748 in 53 deals and a volume of 447,700 shares at a price of Ksh1.75, same as the price prevailing when the market closed this Wednesday.

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The worst performing stocks were led by Sameer Africa at Ksh3.47, a drop of 9.87%. It was followed by TPS Serena, Eveready, Sanlam Kenya and EABL whose prices fell 3.55% to Ksh163.25.

The NSE All Share index lost 0.01 points to close at 139.88 while the NSE 25 was down 10.01 points to 3248.77. The NSE 20, however, gained 3.24 points to end the day at 1,855.53.

It was all quiet in the derivatives segment of the bourse. In the secondary bond market, bonds worth Ksh2.83 billion were transacted in 50 deals. This is compared to Ksh3.04 billion achieved in 73 deals on Wednesday.