By Martin Mwita
Kenya’s Nairobi Securities Exchange has withered the election fever to maintain a steady performance this week, even as anxiety continues after last week’s general elections.
The bourse has continued to register improved activity with Tuesday’s trading closing at a near 23-month high.
The NSE 20 Share Index, which tracks the 20 most valued firms, gained 37.07 points to close at 4,114.01 points. The bourse’s 25 share index was up 4.96 points to stand at 4,515.36 points.
The number of shares traded on Tuesday closed at 36.1 million, valued at Sh824 million.
This is more than double the value of shares traded a last week on Monday, a day before the August 8 general elections, which recorded a paltry Sh302 million with a total 10 million shares traded.
A total 34.4 million shares were traded on Monday this week with a value of Ksh802 million.
The rebound signals a strong investor appetite in Kenya, East Africa’s largest economy, as the country comes to terms with the outcome of the general elections where President Uhuru Kenyatta was last week Friday declared the winner.
“The banking sector was busy with shares worth Equity Group Holdings actively moved 3.8 million shares valued at Ksh169 million at between Ksh43.50 and Ksh44.75. KCB Group remained steady at Ksh45.25 with shares worth Ksh79.8 million transacted.
NIC Bank shares touched a 12-month high of Ksh37.00 before easing down to close at Ksh36.25 moving 766,000 shares valued at Ksh27.7 million. Ksh315 million traded and accounted for 37.46 per cent of the day’s traded value,” the NSE Tuesday market report states.
The commercial and services sector had shares worth Ksh20 million transacted and represented 2.39 per cent of the day’s traded value. Kenya Airways moved 2.6 million shares valued at Ksh13 million at between Ksh5.00 and Ksh5.35.
The construction and allied sector had shares worth Ksh18.2 million traded and accounted for
2.16 per cent of the day’s traded value. Athi River Mining had 8419,000 shares valued at Ksh17.8 million transacted at between Ksh20.25 and Ksh21.00.
In the energy and petroleum sector, shares worth Ksh24 million were transacted and represented 2.91 per cent of the day’s traded value. Kenya Power & Lighting closed ten cents higher to Ksh11.05 moving 1.3 million shares valued at Ksh14.9 million.
The insurance sector had shares worth Ksh 44.6 million traded and accounted for 5.30 per cent of the day’s traded value. After touching a two-year high of Ksh 6.70 CIC Insurance shares eased to close at Ksh6.65 with shares worth Ksh18.6 million realized.
“The manufacturing and allied sector had shares worth Ksh108 million transacted and represented 12.89 per cent of the day’s traded value,” NSE reported.
East Africa Breweries saw 365,000 shares valued at Ksh97 million changing hands at between Ksh265.00 and Ksh268.00.
Safaricom was the day’s biggest mover with 11.6 million shares valued at Ksh 289 million changing.
The Bond market had bonds worth Ksh 666 million transacted.