Olympia Capital Tops The NSE On Wednesday

The top gainer of the day at the Nairobi Securities Exchange (NSE) on Wednesday was Olympia Capital with a gain of 6.95 percent at the price of 2.00 shillings per share.

British American Tobacco was the second top gainer of the day with 3.31 percent at the price of 7.50 shillings per share followed by Bamburi Cement with 3.28 percent at the price of 26.80 shillings per share.

Kenya Re-Insurance and the East African Cables gained 2.38 and 2.34 percent respectively at the price of 2.15 and 1.31 shillings per share.

The top loser of the day was Home Afrika with a loss of 9.76 percent at the price of 0.37 shillings per share followed by Express with a loss of 6.98 percent at the price of 3.20 shillings per share.

Eveready East Africa, Nation Media Group, and Flame Tree Group lost 4.40, 3.01, and 2.17 percent at the price of 0.87, 16.10, and 1.31 shillings per share respectively.

Safaricom was the only company among the top movers’ table with shares above a million sold. All others had below a million. Safaricom sold 3.01 million shares with a market capitalization of 1.28 trillion shillings.

Absa Bank sold 942,100 shares followed by Kenya Electricity Generating Company with 689,200 shares. Equity Group and Co-operative Bank sold 445,600 and 289,800 shares respectively.

“The Nairobi Securities Exchange (NSE) had so much life when President Uhuru Kenyatta opened up the economy and when the Covid-19 infections had started dropping. But now, the second wave seems to be scarier,” said an insider at the NSE.

Investors at the NSE are said to have started developing jitters with the rise in the Covid-19 infections that are set to hit hard on the already-inured economy. They are fears that lockdowns that have already started in Europe will affect the economy (Kenya).

In the past 19 days, Kenya has lost more than 300 Kenyans to Covid-19 and registered more than 16,000 new Covid-19 cases. These are the highest figures since the coming of Covid-19 into the country.