To follow the market trend you require the latest market information. Our market news provides you with up to date information as to what obtains in every market.
[2007-11-22] DFCU Share Price Rises to Sh610
DFCU Group's shares hit an all-time-high on Monday, touching sh610 for the first time in three years. The share price rose from last week's close of sh580 and sh420 at the same time last year.
"There is a lot of money coming into the market. This explains the price increases across the board. Most of the money is coming from Kenya as they head towards elections. The upward trend is likely to continue since most stocks remain under-valued in comparison to those on the Nairobi Stock Exchange," Davis Gathaara, the head of sales trading at Mbea Brokerage Services, explained.
Other analysts said dfcu's rebound was a sign that the group had shaken off the effects of the Global Fund scandal it experienced last year. During that scandal, dfcu's foreign exchange transactions came under scrutiny by the commission probing irregularities in the fund's management.
Monday's trading saw gains being made by all counters except British American Tobacco and New Vision whose share prices held steady at sh500 and sh890 respectively.
Stanbic gained by sh5 to close the day's trading at sh200, Bank of Baroda closed at sh2,025 while Uganda Clays was at sh5,195.
