NSE 20 hits a 4-year low, Turnover Down by 70%, KES very steady

The Nairobi Securities Exchange Market turnover dropped by 70.90% to Kes 372Million from yesterday’s Kes.1.2 billion due to drop in volumes transacted caused by dip in trade on Safaricom, Equity Bank and KCB Bank.

Indices

The NSE 20 Share Index was down 24.11 points to hit a four year low of 3750.98, levels last seen in June 2012. All Share Index (NASI) shed 1.21 points to settle at 145.16 as 24 counters were seen on the red zone while 9 counters were up and 32 showing no movement in prices. Market Capitalization shrunk by 0.83%.

Banking Sector

The Banking Sector had 4.3Million shares traded and represented 26.93% of the day’s traded volume. Equity Group Holdings had 1.4M shares exchanging hands at between Kes.39.50 and Kes.40.50.

KCB Group lost 0.71% to close at Kes.34.75, last seen in January 2013

On the other hand, Co-op bank moved 887,000 shares and closed at Kes.16.90.

Construction & Allied  Sector

The Construction & Allied Sector moved 417,000 shares, which accounted for 2.58% of the day’s traded volume. Athi River Mining moved 412,000 shares at between Kes.32.00 and Kes.33.00.

Energy& Petroleum

The Energy & Petroleum Sector had 388,000 shares traded and represented 2.41% of the day’s traded volume.In Q1-2016, Kenol Kobil recorded biggest market share gain (+3.0%) to 15.7% cutting the lead held by Total Kenya Limited (18.5%-stagnant) and Shell 17.6% (+1.5%). This was due to an increase in number of contracts and deliveries to petrol station plus maintaining the lead in jet fuel market.

Kenya Power & Lighting unchanged at Kes.9.90 moved 166,000 shares. KenGen moved 102,000 shares and closed at Kes.6.65.

Insurance

The Insurance Sector moved 505,000 shares, which accounted for 3.13% of the day’s traded volume. Britam Holdings up fifteen cents to Kes.14.75 moved 319,000 shares.

Manufacturing& Allied

Manufacturing & Allied Sector moved 992,000 shares, which accounted for 6.15% of the day’s traded volume. Mumias Sugar moved 955,000 shares at between Kes.1.30 and Kes.1.35.

Telecommunication & Technology

Safaricom actively moved 9M shares at between Kes.17.65 and Kes.18.35.

The Bond Market

The Bond market had bonds worth Kes.4.8billion transacted.

The Kenya Shilling

The Kenyan shilling was stable on Wednesday in slow business with many market players staying on the sidelines to await the outcome of the Brexit vote, traders said. As of 0939 GMT, commercial banks quoted the shilling at 101.10/30 to the dollar, little changed from Tuesday’s close of 101.10/20.

Source: Kenyan Wallstreet