The share price scorecard at the Nairobi Securities Exchange (NSE) ranks Nairobi Business Ventures(NBV) as the best performing counter in 2020.
With a market capitalization of Ksh2.11 billion and 23.60 million shares, NBV was the top gainer after its restructuring and acquisition of a majority stake in the firm by Dubai-based Delta International FZE, for Ksh83 million. In the year to date, NBV share has appreciated by 511.43% to Ksh4.28 as at 24th December 2020. Its price has hit a low of Ksh0.49 and Ksh6 in the past 52 weeks.
The second-biggest gainer of the year is Carbacid Investments (CARB), whose share price has risen by 40.33% during the year. When trading ended on 24th December 2020, it was trading at Ksh11.90. During the year, its price hit a low of Ksh7.20 and a high of Ksh13.
With a market capitalization of Ksh3.03 billion and 254.13 Million shares at the NSE, Carbacid share price has been boosted by news of its planned acquisition of rival BOC Kenya, a listed oxygen dealer.
Other price gainers include ABSA NewGold ETF whose share price has risen 32.99%. Its share price has been in the range of Ksh1,470 and Ksh2,100 over the last one year. Eveready is in 4th place with a price gain of 14.02%, followed by Kakuzi Plc ( 8.82%), Safaricom ( 7.26%), and Eaagads Limited(1.63%).
The Worst Performers
The top 10 worst performers at the NSE this year are led by WPP ScanGroup which fell 64.81% this year. When trading closed on 24th December 2020, WPP Scan Group was trading at Ksh6. During the year, WPP ScanGroup that has a market capitalization of Ksh378.87 million has had its share price eroded from a high of Ksh25.00 to just Ksh6.00 when the bourse closed this Thursday.
Other laggards during the year include Nation Media Group which fell 58.16%, Bamburi Cement (52.63%), Express Kenya ( 52.43%), East African Cables (48.00%), TransCentury Plc ( 47.73%), HFCK ( 45.89%), Flame Tree Group (45.65%), KPLC (45.64%) and Centum Investment Company Limited which declined 43.64%.
According to trading economics – the online platform that provides historical data, economic forecasts, news, and trading recommendations – the NSE 20 Share Index has declined by 834 points or 31.21% since the beginning of 2020.
This index tracks the performance of 20 best-performing companies listed on the NSE. The companies are selected based on weighted market performance for a 12 month period based on market capitalization, number of shares traded, number of deals, and turnover.
Historically, the Kenya Stock Market (NSE20) reached an all-time high of 6,161.46 in January of 2007. Trading Economics expects the NSE 20 share index to trade at 1807.69 points by the end of this year. This based on its global macro models and analysts’ expectations.
“Looking forward, we estimate it to trade at 1715.53 in 12 months’ time,” says Trading Economics.
With 14 listed firms issuing profit warnings due to pandemic woes, lenders are among the worst hit with Equity Group share price falling 34%, Absa (27.12%), Co-operative Bank( 25.63%), Diamond Trust Bank (33.49%), HFCK (45.89%), I&M Bank (16.54%), KCB (30.52%) and StandChart Bank of Kenya (27.50%) this year.