Longhorn Publishers Plc, a Pan-African publisher listed at the Nairobi Securities Exchange, was Tuesday’s top price gainer.
This is as investors reacted to news concerning the firm’s unveiling of a new e-learning platform for Grade 4, based on the Competence-based Curriculum(CBC) format. The publisher’s share price rose by 8.24% to Ksh4.86 from the previous 4.49. This was on a volume of 12,200 shares that resulted in a turnover of Ksh59,250 when trading at the bourse closed on Tuesday.
The video lessons on its e-learning platform allow children in upper primary to learn about the interdependence between plants and animals for a subscription of Ksh50 per day.
LKL is the only publisher with full approval by the Ministry of Education in 12 key subjects for secondary and primary schools.
The company launched its Sasa Sema Publications Limited. Sasa Sema provides reference books, creative works, biographies, and general knowledge books to cater to the unmet needs within the general leadership space and thus provide a balanced diet.
This initiative was in line with the company’s strategy of diversifying its product range to include books for general leadership. The publisher has subsidiaries in Uganda, Tanzania, and a presence in Rwanda.
NSE turnover rose significantly by a whopping 657% to Ksh659.7 Million when trading closed this Tuesday, 8th December 2020. When the week began on Monday, the bourse was down to a turnover of Ksh87.1 million.
Equity Bank was the top mover with a volume of 9.02 million as foreign investors reacted to Equity Bank being voted the second topmost brand in Kenya by Brand Finance, a firm that specializes in brand valuation across all sectors.
Equity’s share price, however, fell by 0.14% to Ksh34.70 from Ksh34.75 on a turnover of Ksh312.98 Million in 77 deals that were dominated by foreign investors at 88.2%.
The Brand Finance Africa 150, 2020 ranking also saw Equity ranked in position 69 in Africa.
Brand Finance is a London-based organization that evaluates the strength and value of more than 5000 global brands every year, since 2008.
The company evaluates the strength of brands and quantifies their financial value to help organisations of all kinds make strategic decisions.
Foreign investors were also active on the EABL counter, which had a volume of 676,400 in 46 deals and a turnover of Ksh 103.29 million with 76.4 % participation by foreign investors.
Other heavy hitters were Safaricom with (4.13 Million), Coop Bank(2.18 Million), KCB(1.21 Million), and Kenya Power (1.13 Million).The laggards included BOC Kenya, HFCK, CIC Group, I&M Holdings, and Carbacid Investments which slid by 9.06%, 8.79%, 4.19%, 3.93%, and 3.77% to Ksh57.75, Ksh3.01, Ksh2.06, Ksh44.05, and Ksh11.50 respectively.
The benchmark NSE All-Share Index fell 0.18 points to end the day at 146.57.
The NSE 20 Share Index also retreated 2.47 points to settle at 1780.30. The NSE 25 Share Index slumped 7.56 points to settle the day at 3286.09.
The derivatives market had 46 single stocks futures contracts valued at Ksh1.24 million transacted. This is compared to 25 contracts valued at Ksh1.8 million concluded this Monday.
Bonds worth Ksh2.96 billion were traded in 68 deals. This is against a bond turnover of Ksh1.73 billion in 46 transactions on Monday.