NSE Weekly Equity Turnover Hits 15% to kes 1.93 Billion

The Nairobi Securities Exchange (NSE) has recorded a 15% decline in Weekly equity turnover to kes 1.93 Billion from kes 2.3 billion posted the previous week.

The number of shares traded declined slightly to 56 Million this week from 57 million traded during the previous week.

The Derivative Market closed the week with a total of 37 contracts valued at Kes. 1.46M.

NSE Weekly Activity

The Banking Sector had shares worth Kes.829M transacted, accounting for 42.52% of the week’s traded value. KCB Group moved 8.6M shares valued at Kes.379M and closed the week at Kes.44.00. Stanbic up 2.70% to Kes.104.75 moved 2.6M shares valued at Kes.269M. Equity Group Holdings down 4.56% to Kes.49.15 moved 1.78M shares valued at Kes.90M.

During the week, Investors at the Nairobi Securities Exchange lost kes 73.2 billion in a week and the value of the bourse sank to a one-year low on reduced interest on Safaricom after the telecoms operator paid a multi-billion shilling dividend.

The market capitalisation dropped to Sh2.426 trillion on Thursday from kes 2.499 trillion when the bourse opened on Monday, marking the lowest valuation of shares since April 8 last year.

Safaricom, the country’s most profitable company, accounted for 95 per cent of paper or a kes 72.12 billion loss, underlining its dominance that is making it difficult for investors to gauge the performance of the bourse.

The telco’s share dropped to kes 34.15 on Thursday from Monday’s opening price of kes 35.95, driving the Nairobi bourse to a one-year low.

Umeme Plc led weekly gainers at the bourse gaining 12.16% to kes 7.38, followed by CIC Insurance which was up 9.95% to kes 2.21, standard group which was up 9.84% to kes 13.40 per share and Transcentury which was up 6.36% to kes 1.17.

This week’s worst-performing counters were led by EA Cables, which was down 13.56% to kes 1.02, followed by Kenya Power, which declined 9.80% to kes 1.38, Uchumi Plc, which was down 9.52% to kes 0.19 followed by Liberty Kenya which shed 8.95% to kes 5.70.

The Bond Market registered reduced activity with bonds worth Kes.13.8Bn transacted compared to 15Bn registered the previous week.

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