HomeMARKETSSTOCKSSpeculative Buying Seen in Standard Group Share Price Rally

Speculative Buying Seen in Standard Group Share Price Rally

Standard Group Limited was the top gainer on Friday with its share price rising to Ksh21.85 from the previous Ksh19.90, an increase of 9.80%. This is the second time in a week that the counter has been the top price gainer, pushed up possibly by speculative trading.

On Wednesday, 21st October, Standard Group was also the day’s top price gainer with its stock price advancing 9.94% to Ksh19.90 from Ksh18.10 on Monday, 19th October 2020.

On Friday, Standard Group had a single deal of 100 shares resulting in a turnover of Ksh2,185.00.

Other top gainers at the bourse, with a total of 17,470,400 shares in 751 deals, corresponding to a market value of Ksh610,461,708.00, were traded. They included Flame Tree Group Holdings Plc whose stock rose 6.43% to Ksh1.49; East African Cables Plc, which appreciated 6% to Ksh1.59; Carbacid Plc whose share price increased 5.94% to Ksh8.92 and CIC, which gained 5.80% to Ksh2.19.

Friday’s data shows 66% improvement in volume, 118% improvement in turnover and 10% improvement in deals.

The worst performers were led by Bank of Kigali Group Plc whose share price plunged 6.79% to close at Ksh13.05. It was followed by Sanlam Kenya whose price was down 3.60%, Stanbic Holdings Plc which lost 3.27% of its price, NSE which was down 3.1% and KenGen whose share price shed 2.29% to close at Ksh5.12.

Safaricom was the top mover with a volume of 13.4 million traded shares. It was followed by KCB Group (2.37Million), EABL (616,500), WPP ScanGroup Plc (263,700) and Co-operative Bank(133,700)

The benchmark NSE All Share Index gained 0.49 points to close at 141.21 while the NSE 20 Share Index declined 5.97 points to close at 1,799.29. The NSE 25 Share Index shed 0.29 points to close at 3216.66

There were 6 contracts valued at Ksh205,050 concluded during Friday’s trading session on the derivatives market of the NSE.

 Meanwhile, bonds worth Ksh3.04 billion were transacted in 81 deals against Ksh3.72 billion worth of bonds transacted in Thursday’s trading session.

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