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Speculators Raid Olympia Capital Shares

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Speculative investors pushed the current share price of Olympia Capital Holdings Limited to Ksh2.00, a 6.95% rise, placing it as the top price gainer at the Nairobi Securities Exchange(NSE) on 18th November, 2020. The stock previously traded at Ksh1.87.

While Olympia Capital Holdings began the year with a share price of Ksh2.01, it has since shed off 0.5% of that price valuation, ranking it 12th on the NSE in terms of year-to-date performance.

The counter moved a volume of 900 shares in two deals that resulted in a turnover of Ksh1,804 in trades. [ Illustration / Mystocks.co.ke ]

This Wednesday, the counter moved a volume of 900 shares in two deals that resulted in a turnover of Ksh1,804 in trades that were driven 100% by local investors.

Olympia Capital Holdings Ltd is a Kenya-based holding company with interests in companies dealing in the manufacture and sale of products used in the construction industry, such as floor tiles, adhesives, uPVC windows and door frames, cleaning chemicals, as well as fire prevention equipment, water pumps and real estate.

Its subsidiary and affiliated companies include Dunlop Industries Limited, Olympia Capital Corporation Limited, Kalahari Floor Tiles Limited, Gaborone Enterprises Limited, Avon Rubber Company Ltd and Mather & Platt (Kenya) Limited.The company was formally registered in Kenya and got listed at the Nairobi Stock Exchange in 1976.

At the close of Wednesday, turnover at the Nairobi Securities Exchange(NSE) slumped 45% to Ksh209.9 million from Ksh266.8 million on Tuesday.

Safaricom was the highest mover at the bourse with a volume of 3.01 million shares followed by Absa Bank (942,100), KenGen (689,200), Equity Bank( 445, 600) and Co-operative Bank(289,800). 

Apart from Olympia Capital, other counters that reported price gains include Britam, which was up 3.31% to close at Ksh7.50, Bamburi Cement which rose 3.28% to Ksh26.80, Kenya Reinsurance was up 2.38% to Ksh2.15 and East African Cables gained 2.34% to close at Ksh1.31.

The NSE 20 Share Index was up 1.09 points to 1788.54 from 1787.45

The laggards counters were led by Home Afrika, which lost 9.76% to Ksh0.37, followed by Express Kenya which was down 6.98% to Ksh3.20. Eveready East Africa was down 4.40% to trade at Ksh0.87, Nation Media Group which declined 3.01% to Ksh 16.10 and Flame Tree Group, which was down 2.17% to Ksh1.35.

The NSE All-Share Index was down 0.43 points from 144.51 to 144.08 while the NSE 25 Share Index was down 11.83 points to 3278.32 from 3290.15 The NSE 20 Share Index was up 1.09 points to 1788.54 from 1787.45.

Next Read >> NSE’s Cheapest Shares Are Speculator’s Paradise

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BT Reporter
BT Reporterhttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke
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