KQ stock flies 3.6% as NSE investor wealth dips

Kenya Airways (KQ) rose its share price to Ksh3.73 on the day that saw the Nairobi Securities Exchange (NSE) listed firm announce another tenure for board chair Michael Joseph.

The bump was enough to see the the national carrier record the highest jump in stocks at the NSE on June 10.

Bourse trading however resulted in dips all round, as only 15 companies at the NSE managed to scale upwards.

Of these, KQ, Flame Tree Group, Mumias Sugar and Sasini Tea registered gains of more than 2%.

A further 19 remained unchanged, with the other 27 companies blinking red.

Jubilee Holdings was the day’s biggest loser, shedding 7.34% to close at Ksh366.

Umeme, HF Group and Unga Group all retreated by 6.25%, 5.21% and 4.7% respectively.

Bamburi Cement, who announced a change in board of directors, also slipped by 3.67% to end the day at Ksh118.

Overall, equity turnover opened the week with a total of five million shares valued at Ksh121 million.

This was a decline from the previous session’s 8.9 million shares that were valued at Ksh153 million.

[Read: Michael Joseph gets 3 more years as KQ chair]

Investor wealth was also on the receiving end, as it fell from Ksh2.276 trillion to Ksh2.270 trillion by closing bell.

The Bond Market also receded with bonds worth Ksh2.6 billion transacted in 89 deals.

Last Friday, the bond market had seen 155 deals changing hands worth Ksh4.7 billion.

NSE Sectors Wrap

All the market indices at the NSE registered downward trends as follows.

• All Share Index (NASI) shed 0.43 points to settle at 150.04.
• NSE 20 share Index was down 8.99 points to stand at 2691.46.
• NSE 25 Share index dropped 7.20 points to stand at 3641.86.

Agricultural

Williamson Tea traded 9,000 shares valued at Ksh1.3 million at a fairly stable price of Ksh136.

Banking

The Banking Sector had shares worth Ksh62 million transacted which accounted for 51.3% of the
day’s traded value.

KCB Group moved 557,000 shares valued at Ksh21.9 million at between Ksh39.10 and Ksh39.50.

Barclays Bank was down 10cents to Ksh10.30 and moved 1.8 million shares worth Ksh19 million.

Diamond Trust Bank moved 85,000 shares worth Ksh10 million at between Ksh119 and Ksh120.

[Read: DTB rolls out MSMEs Financial Literacy Programme]

Insurance

The Insurance Sector had shares worth Ksh1.7 million traded and accounted for 1.47% of the day’s turnover.

Kenya Re was up 10cents to Ksh14.45 and moved 69,000 shares worth Ksh1 million.

Manufacturing & Allied

The Manufacturing & Allied Sector had shares worth Ksh17 million transacted which represented 14.24% of the day’s traded value.

East African Breweries exchanged 77,000 shares valued at Ksh15.8 million at between Ksh203 and Ksh205.

Telecommunication

Safaricom actively moved 1.3 million shares valued at Ksh36.5 million representing 30.17% of the day’s traded value.

The giant telco’s shares traded at between Ksh27.05 and Ksh27.60.

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