Stocks jump Sh6.5 million to arrest NSE’s February weekly decline

The final week of trading in February at the Nairobi Securities Exchange (NSE) saw stocks climb by Ksh6.5 million as against the penultimate week of the month.

At a total of 79 million shares in the week ended March 1, the bourse improved from the 72.5 million shares posted in the week ended February 23.

The jump arrested February’s plunge in weekly stocks, with the bourse having experienced a gradual decline in volume of shares traded every week over the 28 days.

Beginning at stocks of 176 million on the week ended February 8, the NSE then recorded a 49% dip in stocks the following week.

Last week, the NSE saw a further tick down of 16.5 million stocks, also plunging in value by Sh600 million.

The value of the stocks registered as February ended and March began was Ksh2.47 billion as against Ksh2.3 billion transacted the previous week.

In terms of value, this week’s figure is well below the Ksh6.3 billion that was posted during the first week of February.

Meanwhile, the indices ended the week lower, with all counters in the red zone as against the previous trading session.

• The NSE 20 share index shaved-off 60.83 points to stand at 2916.19.
• All Share Index (NASI) was down 1.45 points to stand at 152.91.
• The NSE 25 Share index dropped 69.67 points or 1.79% to settle at 3821.50.

The bonds market transacted Ksh10 billion compared to Ksh7.9 billion registered the previous week.

Winners and losers at the NSE

EA Portland Cement was the day’s highest gainer at the bourse, jumping 9.57%. The cement manufacturer was followed by ScanGroup, who rose by 9.09%.

Carbacid Investments (+8.70%), Eveready East Africa (+7.53%) and Car & General Kenya (+4.17%) rounded off the day’s top gainers.

On the negative counter, Umeme and Sasini led, shedding off 7.28% and 6.90% respectively.

Kenya Airways (-3.81%), Uchumi Supermarkets (-3.17%) and TPS Eastern Africa (-2.52%) were also among Friday’s top decliners.

In terms of stocks traded, Safaricom moved 9.1 million shares while Kenya Re was at 2.66 million shares.

KCB Group transacted 2.3 million shares while Equity Group (1.7 million) and Co-op Bank (523,500 shares) also moved high volumes of stocks.

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