Winners, losers at June securities exchange

Kenyan-based battery distributor Eveready emerged top gainer at the Nairobi Securities Exchange (NSE) in June, with a 116 per cent rise in value, buoyed by the entry of a new investor.

This points to the firm’s impressive month-on-month increase in the price of its stock, highlighting its resilience after long spells in the doldrums.

The agricultural sector also showcased its strength as tea grower Williamson Tea Kenya witnessed a significant climb of 35 per cent in its stock value. During that period a prominent player in the sale of imported leather products, Nairobi Business Venture, experienced a substantial gain of 32 per cent.

According to NSE data, Olympia Capital Holdings, a key manufacturer and seller of products for home restoration, building, and construction sectors, saw a positive upturn in June with its stock value rising by 30 per cent.

This reinforces the confidence of investors in the construction industry and indicates a promising outlook for the sector. Performance The month of June also brought disappointment for some companies like TransCentury and Unga Group, as they witnessed a decline of 29 per cent and 23 per cent in their stock values, respectively.

These highlight the importance of continuous evaluation and adaptation in the ever-changing business landscape. It is important to note that illiquid counters such as Uchumi were among the top gainers in the month which could dupe new investors given that the company barely opened its stores.

In the coming months, investors and market analysts will closely monitor the performance of companies in an upward trajectory such as Eveready Industries, to determine the sustainability of their growth.