Khusoko – East African Markets

Scangroup Depreciates 8.93%, Stanlib Gains 9.68% on Monday Trading 

Nozipho Makhoba of Stanlib

Shares of WPP Scangroup depreciated 8.93% at Ksh 5.10 per share on Monday.

This represents an 8.93% drop from its Friday closing price of Ksh 5.60 following the suspension of its CEO Bharat Thakrar and the Chief Finance Officer, Mr Satyabrata Das. 

Stanbic Holdings lost by-4.76%, Kenya Power & Lighting Company by -4.7%.

STANLIB Fahari Income REIT was the biggest gainer with 9.68% share price appreciation closing at Ksh 6.80 per share, followed by Eveready East Africa (+8.91%).

Safaricom recorded the highest volume of 12.6 million traded shares, followed by Equity Group Holdings (1.03m), Absa Bank Kenya (564,900) and NCBA Group (346,800). 

Last week, the equities market recorded mixed performance, with NASI and NSE 25 gaining by 0.9% and 0.7% respectively, while NSE 20 declined marginally by 0.1 taking their YTD performance to gains of 8.9%,0.9% and 6.7% for NASI, NSE 20 and NSE 25 respectively. 

The equities market performance was driven by gains recorded by large-cap stocks such as BAT, KCB Group, Bamburi and DTB-K of 14.1%, 3.9%, 3.1% and 2.5%, respectively. 

However, they were weighed down by losses recorded by stocks such as EABL and NCBA Group which declined by 2.3% and 1.6%, respectively. 

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