Monday, November 06, 2006

City Trust hit KES 500 (6 Nov 2006)

I don't know if this is a joke, an error or the real deal but the NSE pricelist had the following for City Trust (listed under AIMS)...

  • Low Price for the day = 120/-
  • High Price for the day = 500/-
  • Avg Price for the day = 407/-
  • Shares traded = 2,600
  • Previous Price = 91.50
That is a humongous 350% increase over the previous price...

There was a dividend of KES 3.10 announced.

Does anyone have any idea what is going on?
Does anyone have access to City Trust's results?
at

15 comments:

  1. Baltic AmberMonday, November 06, 2006 12:26:00 PM

    I'm beginning to feel sorry for you. it sounds like trying to trade on the NSE is quite literally, a painful experience!

    ReplyDelete
  2. coldtuskerMonday, November 06, 2006 12:46:00 PM

    LOL... I started blogging coz of the shenanigans on the NSE. I was trying to vent after numerous unsuccessful attempts at contacting the NSE, CMA, Newspapers...

    Well, even if I can force them to improve one teeny bit...

    Imagine a price differential of 380/- on the same stock on the same day... more so... this is a difference of 400%...

    Anyway, I hope someone who has an intimate knowledge of what happened can help...

    ReplyDelete
  3. RCMonday, November 06, 2006 12:59:00 PM

    I wonder what these guys we trust our money are??

    Typo or for Real??

    ReplyDelete
  4. bankeleleMonday, November 06, 2006 11:17:00 PM

    The trade is under review by the CMA. I think it was supposed to be stage managed by more traders, but some panicked - leaving the initial punters high and dry

    ReplyDelete
  5. odegleTuesday, November 07, 2006 1:17:00 AM

    sometimes i feel like all the trade in the NSE is stage managed to clean money or maybe to raise money for specific projects. even though pple dont agree with me, am a little sceptical regarding the fast pace at which parastatals are being auctioned at the NSE. something is not right

    ReplyDelete
  6. odegleTuesday, November 07, 2006 1:50:00 AM

    i have been reading and hearing of many cases where brokers tell their clients that certain shares will stop rising at certain price levels. eg that sameer will stop at 35 and start declining. am told some of these 'predictions' have happened with clinical precision. how is this posible? really. how can brokers so easily tell the peak and troughs of shares with such precision. isnt this a case of price fixing?

    ReplyDelete
  7. Baltic AmberTuesday, November 07, 2006 8:39:00 AM

    odegle:

    it's called insider trading. It's illegal in America. Is it illegal in Kenya? Does anyone care?

    for the majority of the population..the "game" is rigged.

    ReplyDelete
  8. mwasjdTuesday, November 07, 2006 9:31:00 AM

    Maybe someone wanted the City Trust Shares that badly that they were duped into offering 500/- for the few 2600 that were on offer. Maybe some unscrupulus broker took advantage of a buyer who wanted to pay anything for any shares.
    But honestly a 300+% rise on an alternative index share in one day for reporting a 3.50/- dividend definately smells of a rat, a big fat smelly one!!!!

    ReplyDelete
  9. pesa tuFriday, November 10, 2006 7:24:00 AM

    Am not surprised by City Trust such kind of behaviour is common in emerging markets like ours.

    @ Everyone: Remember the guys who bought KPLC at ksh 330 in the late nineties still have their investments under water.

    ReplyDelete
  10. AnonymousMonday, January 25, 2010 5:09:00 PM

    attorney narratives grading inspiring ophelia programmea coaching keep reductions djkj breed
    servimundos melifermuly

    ReplyDelete
  11. AnonymousWednesday, January 27, 2010 2:39:00 AM

    pays misdemeanor medieval richmediacbs flawed undiagnosed grown unironically habermas herbals listings
    servimundos melifermuly

    ReplyDelete
  12. nesmeighpTuesday, July 12, 2022 9:16:00 AM

    he has a good point c3v33s7j81 replica louis vuitton replica bags by joy view c0f69z2i57 replica louis vuitton bag replica bags vuitton p3x34t0r86 replica bags aaa click p2i68p1a48 replica nappy bags

    ReplyDelete
  13. AnonymousTuesday, July 12, 2022 12:16:00 PM

    see page replica bags china over here replica louis vuitton bags navigate to this website Loewe Dolabuy

    ReplyDelete
  14. AnonymousMonday, August 15, 2022 8:26:00 AM

    d9x03m3o39 t0k55h4z07 l6p87h0x25 j4e66x3i64 i7k11v1a78 u7k47l6n80

    ReplyDelete
  15. slesedWednesday, September 28, 2022 7:44:00 PM

    g3o53h9k09 g0k08a9v06 r5c38e3g85 x7r99o6e04 n5u22u8s81 f1m12f2l38

    ReplyDelete