HomeRegional NewsEast AfricaKenGen stocks rise as share price declines

KenGen stocks rise as share price declines

On Tuesday, Kenya’s power utility KenGen, was the top traded stock after moving 15.4 million shares at a declined price of $0.09, Xinhua Net reported.

Following close behind was power distributor, Kenya Power, which traded 10.7 million shares at a 3% high of $0.10.

“Turnover at the Nairobi Securities Exchange rose to $9.8 million on a volume of 46 million shares, up from 8.7 million worth $2.1 million in the previous session, boosted by vibrant trading of energy stocks,” Xinhua reported.

Kenya Power: stocks rise for power sector

According to media, Equity Bank and Kenya Commercial Bank followed respectively at position three and four after trading 5.5 million and 3.9 million shares at $0.43 and $0.44.

The east African country’s top telecoms company Safaricom, closed the list of the best five traded stock after transacting 2.9 million shares at unchanged price of $0.24. Monday, the telecom traded 1.4 million shares, Xinhua reported.

“The benchmark NSE 20 Share Index sustained an upward trend going up 6 points to close at 4,013.71. On Monday, it gained 14.79 points to at 4,007.55,” the Chinese media agency reported.

They added: “Among the stocks that lifted up the index on Tuesday were Kenya Power, Kengen, British American Tobacco and Standard Chartered Bank, which went up between 0.1% and 1%.”

KenGen issues tender

In other news, KenGen invites eligible bidders for the design, supply, installation, testing and commissioning of a 500KVA emergency diesel generator for Kamburu Hydropower Station.

Please note that there shall be a mandatory site visit on 6 September 2017 at 10:00am at Kamburu Power station.

The deadline for submissions has been slated for 26 September 2017 at 10:00am. Read more… 


Featured image: Stock

Ashley Theron
Ashley Theron-Ord is based in Cape Town, South Africa at Clarion Events-Africa. She is the Senior Content Producer across media brands including ESI Africa, Smart Energy International, Power Engineering International and Mining Review Africa.