NSE remains Subdued Ahead of the Holiday Season

Nairobi Securities Exchange(NSE) activity remained depressed ahead of the Christmas holiday and new year festivities with daily equity turnover, declining 9% to KSh 305.2 Million compared to the previous session’s turnover of KSh 334.2 Million. On Wednesday, the Nairobi bourse recorded an equity turnover of KSh 331.6 Million.

A total of 8,416,200 shares in 593 deals was recorded at the end of this trading week compared to a volume of 9,880,000 shares in 761 deals transacted this Thursday.

The secondary bonds market also displayed a decline in activity, recording a turnover of KSh 3,018,800,000 in 66 deals compared to a turnover of KSh 4,441,100,000 in 95 deals the previous day.

There was no activity in the derivatives market.

Nation Media Group led the gainers with 5.28% share price appreciation closing at KSh 19.95 per share. Nation Media began the year with a share price of KSh 15.45 and has since gained 29.1% on that price valuation, ranking it fourth on the NSE in terms of year-to-date performance.

NSE Gainers and Losers

NMG stock has accrued 7% over the past four-week period—seventh-best on NSE.

NMG was followed by CIC Insurance Group, which was up 4.76% to KSh 2.20; Total which gained 3.96% to KSh 24.95; Diamond Trust Bank which appreciated by 3.93% to KSh 59.50; Eveready which was up 3.12% to KSh 0.99 and Home Africa which gained 2.56% to KSh 0.40.

The worst performing counters were led by Olympia Capital Holdings which declined by 9.64% to KSh 1.78 followed by Nairobi Business Ventures which was up 6.94% to KSh 5.36; Limuru Tea which declined by 4.48% to KSh 320; Uchumi which fell 4.17% to KSh 0.23; Williamson Tea which declined by 3.52% to KSh 130.25 and HFCK which was down 2.50% to close at KSh 3.90 per share.

Safaricom recorded the highest volume of 4.24 million traded shares, followed by Kenya Power & Lighting Company (1.17million), ScanGroup (899,500) and East African Breweries (675,800).

The benchmark NSE All Share Index(NASI) climbed 0.45 points or 0.26%) to close at 170.57, representing a 1-week gain of 4.23%, a 4-week gain of 5.2%, and an overall year-to-date gain of 12.14%.

The NSE 20 Share Index was up 0.62% to 1901.57 while the NSE 25 Share Index hit 3759.84, a rise of 0.48%.

Figures from ABY.AXYS African Research daily brief shows that the Kenya Shilling depreciated against the greenback to trade at KSh 113.08 compared to KSh 113.06 recorded in the previous session.

On a year-to-date basis, the Kenya Shilling has depreciated by 3.43% as compared to a 7.7% depreciation in 2020.

“The recent increase in petrol and diesel prices has contributed to the current depreciation of the Kenya shilling. We anticipate

that diesel and petrol prices will continue to increase as they trail global crude oil prices which have been on the rise due to global economic demand growing. This will exert more pressure on the shilling which is likely to lead to further depreciation,” said analysts at ABY.AXYS

ALSO READ: NSE Daily Equity Turnover Rises 0.8% to KSh 334.2 Million

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