The Nairobi Securities Exchange ended the week on the edge, with turnover dropping by 59% to Ksh2.7 billion on a volume of 98M shares, down from KSh6.6 billion on 215M shares posted the previous week. The fall has been attributed to foreign investors keeping off the market as political tenstion continues to plague the country.
The trend was a continuation of the 51% decline on Thursday in a session dominated by local investors. Local investors’ participation stood at 65 percent while foreigners, who usually do the bulk of the trading, contributed 35 percent, down from 50% on Wednesday
The tension arose from the swearing-in of opposition leader Raila Odinga as the “People’s President”, a ceremony the government outlawed and wich led to a crackdown on opposition elements.
Meanwhile, the drop in volumes pushed the NSE 20 share Index 27.77 points lower to stand at 3713.25. The All Share Index (NASI) was, however, up 0.29 points to stand at 180.25, while the NSE 25 Share index gained p 2.88 points to stand at 4511.95.
The Banking Sector was busy with shares worth Ksh1.4 billion transacted, which accounted for 52.59% of the week’s value. Equity Group Holdings actively moved 12M shares valued at Kes.526M at between Ksh42.25 and Ksh43.50. KCB Group touched a week high of Ksh46.00 and a low of Ksh44.75 with shares worth Ksh422M transacted. NIC Group moved 5.2M shares worth Ksh185M and closed the week at Ksh36.00.
The Construction & Allied Sector traded shares worth Ksh84.9M which represented 3.12% of the week’s traded value. Bamburi Cement was the most traded counter in this sector during the week with 458,000 shares valued at Ksh80M changing hands at between Ksh174.00 and Ksh180.00.
The Energy Sector had Ksh340M shares traded and accounted for 12.52% of the week’s turnover. KenolKobil stirred up activity in this sector during the week with 17.8M shares valued at Ksh267M changing hands at between Ksh15.00 and Ksh15.50. KenGen shares slipped by 1.20% to close the week at Ksh8.20 with shares worth Ksh42M realized.
In the Investment Sector, shares worth Ksh63.8M traded and accounted for 2.35% of the week’s turnover. After touching a 12-Month high of Ksh46.50, Centum eased down to close the week at Ksh45.75 with shares worth Ksh62.5M realized.
The Manufacturing & Allied Sector had shares worth Ksh149M transacted which represented 5.51% of the week’s traded value. E.A Breweries moved 412,000 shares valued at Ksh103M at between Ksh245.00 and Ksh250.00. Unga Group recorded a 46.15% gain to close the week at Ksh42.75 with shares worth Ksh20.9M transacted.
Safaricom was the week’s biggest mover with 18.8M shares valued at Ksh546M changing hands at between Ksh28.00 and Ksh30.00; this represented 20.06% of the week’ traded value.
The Bond Market recorded reduced activity during the week with bonds worth Ksh13.3Bn transacted compared to Ksh18.7Bn posted the previous week.