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Risk-Averse Investors Turn to Fixed Income as Stocks Retreat

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The Nairobi Securities Exchange (NSE) reported a slight drop in weekly turnover on Friday, shedding 0.1% to Ksh1.30 billion from Ksh1.31 billion transacted the previous week.

However, there was sustained activity in the fixed income securities segment with bonds worth Ksh13.0 billion transacted. This is compared to Ksh12.3 billion registered the previous week.

A bearish sentiment at the NSE is pushing investors to the more risk-averse government and corporate bonds and well as other fixed-income securities.

The volume of shares traded at the bourse declined by 18.1% to 42 million from the 52.0 million posted the previous week.

Safaricom continued to rally through the week, posting a 2.82% gain to Ksh30.95, up from the Ksh30.10 posted a week earlier. Safaricom’s shares accounted for 54.69% of the week’s traded value.

The Banking Sector came in second in activity with shares worth Ksh405 million transacted, accounting for 30.68% of the week’s traded value.

KCB Group Plc traded 6.9 million shares resulting in a turnover of Ksh256 million at a fairly stable price of Ksh37.05. Equity Group Holdings Plc lost 1.72% during the week to trade at Ksh34.35, moving 3.7 million shares valued at Ksh129 million.

Co-operative Bank lost 3.39% of its share price to Ksh11.40 with a volume worth KSh6.2 million transacted.

See Also >> Earn Steady Income By Investing in Government

The benchmark NSE All-share index (NASI) was up 1.56 points or 1.12% to close the week at 141.21 points. This represented a 4-week gain of 1.07%, but an overall year-to-date performance loss of 15.14%.

The NSE 20 share index shed 11.84 points or 0.82% to close Friday at 1,799.29 points, the NSE 25 share index was however up, adding 3.76 points or 0.12% from last week’s close to stand at 3,216.66.

 The NSE 20 and the NSE 25 share indices have climbed down 32.21% and 21.56% respectively in year to date performance.

The Derivatives Market of the NSE closed the week with a total of eight contracts valued at Ksh279,000 concluded.

Next Read >> Facebook Plans to Support Kenya Elections and Others in Africa

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BT Correspondent
BT Correspondenthttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke
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