NSE trade more than doubles as market breaks

Safaricom was the week’s biggest mover with 53 million shares valued at Ksh1.4 billion (US$13.7 million) changing hands at between Ksh27.05 and Ksh27.70, accounting for 39.21 per cent of the week’s traded value.

May 26, 2020

Nairobi Security Exchange’s top share index-NSE 20 shed some 43.09 points or 1.67 per cent to stand at 2543.59 on Friday, even as volumes rose from the previous trading. The index that tracks blue chip companies at the bourse has been on a downward streak in recent weeks, affecting other indices. NSE market turnover for Friday however stood at Ksh332 million (US$3.2 million) from the previous session’s Ksh179 million (US$1.7 million) as the number of shares traded rose to 12.5 million against 9.9 million posted the previous day. Safaricom was the week’s biggest mover.

Live trading at NSE

Trading at the Nairobi Securities Exchange (NSE) more than doubled this week compared to the previous week, as the market recorded increased investor activities.

Week on week turnover rose Ksh3.7 billion (US$36.3 million) on 102 million shares traded against 51.8 million shares valued at Ksh1.3 billion (US$12.8 million) transacted the previous week.

During the week’s trading which closed on Friday, the NSE 20 share index was up 6.32 points to stand at 2706.78. All Share Index (NASI) shed 0.35 points to settle at 150.12 while the NSE 25 Share index lost 11.08 points to settle at 3637.98.

Banking Sector

The banking sector was busy with shares worth Ksh1.3 billion transacted which accounted for 35.78 per cent of the week’s traded value. Equity Group Holdings actively moved 15 million shares valued at Ksh601 million at between Ksh39.75 and Ksh40.05.

KCB Group moved 11 million shares worth Ksh446 million and closed the week at Ksh39.65. Stanbic Holdings up 2.54 per cent to Ksh100.75 moved 1.5 million shares valued at Ksh147 million.

Insurance

The insurance sector had shares worth Ksh592 million transacted which accounted for 15.83 per cent of the week’s traded value. Jubilee Holdings was the most actively traded counter in this sector during the week with 1.4 million shares valued at Ksh575 million at between Ksh366.00 and Ksh410.00.

Investment

The investment sector had shares worth Ksh68.9 million transacted which represented 1.84 per cent of the week’s traded value. Centum closed the week 2.26 per cent higher to Ksh34.00 moving 1.9 million shares valued at Ksh68 million.

Manufacturing & Allied Sector

The manufacturing and allied sector had shares worth Ksh232 million transacted which represented 6.2 per cent of the week’s traded value. East Africa Breweries Limited (EABL) moved 824,000 shares valued at Ksh168 million during the week at between Ksh203.00 and Ksh206.50.

B.A.T recorded a 1.82 per cent gain to close the week at Ksh504.00 with shares worth Ksh61 million transacted.

Telecommunication Sector

Safaricom, the only listed telco on the Nairobi bourse was the week’s biggest mover with 53 million shares valued at Ksh1.4 billion (US$13.7 million) changing hands at between Ksh27.05 and Ksh27.70, accounting for 39.21 per cent of the week’s traded value.

Bonds

The bond market turnover declined marginally Ksh13.4 billion (US$131.6 million) compared to Ksh13.7 billion (US$134.6 million) posted the previous week.

Meanwhile, the NSE is putting final details in launching the derivatives market in Kenya, which will make the Nairobi bourse the second in Sub-Sahara Africa to offer the segment after the Johannesburg Stock Exchange (JSE).

READ:NSE gets green light for Derivatives Market

The Nairobi bourse is also on course with its incubation programme dubbed ‘Ibuka’, which translates to ‘emerging’, as it seeks to attract new listings in the market after more than a decade of a listing drought.