MEDIAStock market

100 Shares Trade Stirs Up Media House Stock

Standard group share price up
Standard Group has seen its share price plummet from an all-time high of Ksh31.00 to Ksh18.00 per share over the past 52 weeks. [ Photo / Tej.co.ke ]

The top gainer of the day on Wednesday 21st October at the Nairobi Securities Exchange (NSE) was Standard Group whose share price went up 9.94% to close at Ksh19.90, from the previous price of Ksh18.10

This was on a single deal that involved trading in a volume of 100 shares, resulting in a turnover of Ksh1,990.

Standard Group has seen its share price plummet from an all-time high of Ksh31.00 to Ksh18.00 per share over the past 52 weeks as the growth of digital media creates stiff competition for traditional media houses.

At the end of Wednesday’s trading session, a total of 8.93 million shares in 681 deals, corresponding to a market value of Ksh250.4 million were traded.  There was a 46% rise in volume, 40% improvement in turnover, and a 4% shrinkage in deals.

Standard Group reported a Ksh306.1 million loss for the half-year ended June 2020 compared to Ksh19.3 million profit the media company reported in a similar period last year, attributed to dwindling advertising spend.

Source: Mystocks.co.ke

Apart from Standard Group, other top price gainers included Home Afrika Plc (7.69%), Carbacid Plc (5.71%) and NSE whose share price edged upwards 4.2%.

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The worst performing counters were led by Eveready E.A Plc, whose price fell 6.19% closing at Ksh0.91 per share. Others were Olympia Capital Holdings, Standard Chartered Bank Kenya Plc and Co-operative Bank

Safaricom Plc was the prime mover with 6.68 million traded shares. It was followed by Kenya Power & Lighting Company Plc (775,600), Equity Group (331,600) and Centum Investment (294,500).

 The benchmark NSE All Share Index gained 0.09 points to close at 139.79. The NSE 20 Share Index declined 2.76 points to close at 1809.66. The NSE 25 Share Index declined 5.01 points to close at 3205.30

There were 2 contracts valued at Ksh74,400 concluded at the derivatives market this Wednesday.

Turnover in the bonds market was Ksh2.83 Billion in 48 deals compared to Ksh3.67 Billion worth of bonds traded this Monday.

Next >> Media Houses Find It’s Not Easy to Fire Employees

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BT Reporter
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