NSE turnover drops as market breaks for weekend

May 26, 2020

The Nairobi Securities Exchange(NSE) has recorded an 82 per sent drop in half year profit to June 30, the self listed firm has reported. The group's profit during the period Ksh24 million as compared to Ksh134 million recorded over the same period in 2018. Global economic growth remained subdued in the first half of 2019 on account of strained US-China trade relations coupled with prolonged Brexit uncertainty, that significantly impacted on investor sentiments, slowing down investment.

Live trading at the Nairobi Securities Exchange

The bond market however improved with bonds worth Ksh17 billion transacted

Week on week turnover at the Nairobi Securities Exchange (NSE) declined marginally to Ksh3 billion (US$29.8 million) on 103 million shares traded during the week, the bourse’s market report reveals.

This is against 121 million shares valued at Ksh3.4 billion (US$33.7 million) transacted the previous week.

At close of business on Friday, the NSE 20 share index was down 40.82 points to stand at 2846.35 on the week’s trading.

The index tracks the top 20 blue chip companies listed on the bourse, which is East Africa’s most vibrant market.

All Share Index (NASI) lost 2.34 points or 1.46 per cent to stand at 157.66 while the NSE 25 Share index shaved-off 43.25 points to settle at 3935.99.

Telecommunication Sector

Safaricom was the week’s biggest mover with 56 million shares valued at Ksh1.5 billion changing hands at between Ksh26.95 and Ksh28.20, accounting for 50.20 per cent of the week’s traded value.

Banking Sector

The banking sector was busy with shares worth Ksh1.2 billion transacted which accounted for 41.33 per cent of the week’s traded value.

Equity Group Holdings was the most actively traded counter in this sector during the week with 18.4 million shares valued at Ksh756 million, changing hands at between Ksh40.00 and Ksh43.50.

KCB Group was down 1.45 per cent to close the week at Ksh44.05, moving 7.2 million shares valued at Ksh318 million. Co-operative Bank slipped 3.86 per cent to Ksh14.95 with shares worth Ksh54 million transacted.

Manufacturing & Allied Sector

The manufacturing and allied sector had shares worth Ksh137 million transacted which represented 4.43 per cent of the week’s traded value.

East Africa Breweries Limited (EABL) saw 445,000 shares valued at Ksh92 million changing hands at between Ksh205.00 and Ksh210.00. B.A.T down 1.09 per cent to Ksh544.00 moved 80,000 shares valued at Ksh43.8 million.

Commercial & Services Sector

The commercial and services sector had shares worth Ksh47.6 million transacted which accounted for 1.54 per cent of the week’s traded value. TPS Serena closed the week 6.82 per cent lower to Ksh20.50 moving 1.7 million shares valued at Ksh37.5 million.

Insurance Sector

The insurance sector had shares worth Ksh38.7 million transacted which accounted for 1.25 per cent of the week’s traded value. Kenya-Re actively moved 2.7 million shares valued at Ksh30.8 million at between Ksh11.00 and Ksh12.90.

Investment Sector

The investment sector had shares worth Ksh20.8 million transacted which accounted for 0.67 per cent of the week’s traded value. Centum moved 613,000 shares valued at Ksh19.6 million at between Ksh31.90 and Ksh32.70.

Bonds

The bond market witnessed improved activity with bonds worth Ksh17 billion (US168.6 million) transacted compared to Ksh14 billion (US$138.9 million) registered the previous week.