Kenya Equity Markets | 15 Oct 2015: Kenya cash flow issue panic equity investors, Shillings fall …

Nairobi, Kenya Capital Markets in Africa — On Thursday, the Bear stayed as the king to further pulled the Nairobi Securities Exchange stock markets into the southern hemisphere. The equity market capitalization ended at KES 1,908 billion after dropping KES 8.8 billion (c.US$85 million) or 0.46 percent from the market capitalization of KES 1,917 billion recorded at previous trading session.

The Nairobi All Share Index dipped by 0.45 percent or 0.62 points to end at 135.71 points and the Nairobi Securities Exchange (NSE20) index dropped 7.66 points or 0.20 percent to close at 3,868.18 points. Also, NSE 25 index closed at 3,953.83 after declining by 0.38 percent. The FTSE NSE 15 index and FTSE NSE 25 declined by 3.17 percent to end at 177.66 and sagged by 3.13 percent to end at 177.21 points respectively.

Look at today’s market activities, the volume of shares traded declined 17.27 percent to close at 36.79 million and the total turnover jumped 13.66 percent to close at KES 1.30 billion. In term of investor types, foreign buys stood at 90.78 percent of total turnover, while foreign sales stood at 91.88 percent of total turnover. Foreign investors sold Equity Group at a high KES 42.50 and a low KES 39.75 hence trading 10,145,900 shares. Barclays Bank of Kenya was foreign dominated therefore trading a block of 3 million shares at KES 11.80.

Kenya Commercial Bank was the largest mover of the day with a turnover of KES 418.52mn representing 32.37 percent of the total market turnover.  Other most actively traded stocks were Equity Group recorded KES 353.834 million; East Africa Breweries Limited had KES 141.048 million, CFC STANBIC registered KES 127.755 million and SAFARICOM Limited ended with a turnover of KES 86.553 million.

From the market movers and shakers, today’s price mover was NIC Bank Limited emerged as the top advancer after adding 7.68 percent to end the day at KES 38.50. Crown Berger Paint Limited jumped by 5.83 percent to close the day at KES 63.50. Nairobi Securities Exchange surged by 4.82 percent to settle at KES 21.75. Also, SCANGROUP Limited added 4.35 percent to end at KES 24.00 and Co-operative Bank of Kenya ended at KES 16.45 after surging by 2.81 percent.

 On the contrary, Longhorn Limited emerged as the top decliner after dropping 9.17 percent to trade the day at KES 5.45. Jubilee Holdings Limited settled at KES 387.00 after dipping by 8.94 percent and Olympia Capital Holdings Limited plunged by 6.12 percent to trade at KES 4.60. Atlas Development & Support Services dropped 3.85 percent to close at KES 2.50 and ATHI RIVER Mining slacked by 3.33 to trade at KES 36.25.

On foreign exchange market front, the Kenyan Shilling depreciated against US dollar to trade at KES 103.2442 by dropping 0.02 percent and sagged by 0.89 percent to close at KES 159.2283 against British pound. Also, Kenyan Shillings lost 0.32 percent against the Euro to close at KES 117.9611 and depreciated by 2.34 percent against South African rand to trade at KES 7.8198.