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NSE May 23: Mumias Sugar sweetens stock, opens +10%

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As trading opened at the Nairobi Securities Exchange on May 23, Mumias Sugar sweetened its stock , temporarily shooting 10% as against the previous day’s close.

With the bourse having opened for over half an hour, the share price of the sugar makers was trading at Ksh0.33.

It remains to be seen whether the rebound will subsist for the rest of the day, as minutes later its stock dropped below the 5% mark.

On May 22, Mumias Sugar had posted Ksh0.30, dipping 9.09% to end the day as the highest decliner.

Kenya Airways (KQ) meanwhile was flying high, posting Ksh3.70 as much as one hour into trading at the bourse. The increase was 8.5%.

Electricity firm Kenya Power (KPLC) also surged upwards to Ksh3.80 as against the previous session, a 8.26% spike.

In terms of volumes transacted, Equity Bank was quick off the blocks transacting 207,200 shares.

Regular volume movers Safaricom trailed Equity, with 105,200 shares moved within the hour.

Safaricom stock will probably be one to watch. On the day, anticipation and uncertainty awaits following a press conference called by chief executive Bob Collymore.

Collymore is understood to be speaking at the Africa Shared Value Summit. The conference is being held at the Radisson Blu hotel in Upper Hill, Nairobi.

Already marked to be speaking at 8:45am, eyebrows have been raised following a scheduled presser for noon at the hotel.

[See Also: EACC hunts down Governor Waititu]

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Mike Njoroge
Mike Njorogehttp://www.businesstoday.co.ke
Mike Njoroge is the founder of Daystar Oracle and FootballTriangle. He is passionate about news, religion and sports. He can be reached at: [email protected]
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  1. Hi all ,For we who bought shares for mumias sugar during it’s existence and now it’s on the other management further more it’s not on stock exchange it’s no longer on business daily .what next do they expect.


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