Kenya Equity Markets | 20 Aug 2015: Nairobi Securities Exchange hemorrhage continues …

Nairobi, Kenya (Capital Markets in Africa) — Downward trend persisted on the Nairobi Securities Exchange and market capitalization sagged by 0.39 percent or KES 8.26 billion (almost US$80.0 million) to end at KES 2,110 billion relative to market capitalization of KES 2,118 billion recorded at previous trading session.

The Nairobi Securities Exchange (NSE20) index sagged by 0.78 percent or 34.87 points to close at 4,429.87 points and the Nairobi All Share Index fell by 0.59 points or 0.39 percent to settle at 150.42 points. The FTSE NSE 15 index and FTSE NSE 25 plummeted by1.07 percent to end at 193.90 points and plunged by 1.13 percent to settle at 192.97 points respectively.

Look at today’s market activities, the volume of shares traded soared 334.42 percent to close at 97.13 million and total turnover rose by 520.34 percent to close at KES 3,686.99 million. Equity Group was the largest mover of the day with a turnover of KES 3,275.87 million representing 88.85 percent of the total market turnover. Other most actively traded stocks were KCB Group recorded KES 183,949 million; Kenya Reinsurance Company had KES 72.545 million, East Africa Breweries Limited registered KES 41.362 million and Safaricom Kenya with a turnover of KES 34.774 million.

Today’s price mover was I&M Holdings which emerged as the top gainer after adding 4.55 percent to end the day at KES 115. Pan Africa Insurance grew by 2.27 percent to close the day at KES 67.50. Olympia Capital surged by 2.20 percent to settle at KES 4.65. Similarly, Kenya Reinsurance Company and Atlas Development & Support Services surged by 1.69 percent to end at KES 18.00 and surged by 1.27 percent to settle at KES 7.95 respectively.

On the losers’ chart, Flame Tree emerged ended as the top loser after plummeting by 7.28 percent to end the day at KES 7.00. East Africa Portland Cement concluded at KES 67.50 by losing 6.78 percent and British American Tobacco sagged by 5.91 percent to trade at KES 780.00. Unga Group Limited also somersaulted by5.17 percent to close at KES 41.25. Housing Finance went down by 5.15 percent with a closing price of KES 23.00.

On foreign exchange market front, the Kenyan Shilling continued to weaken against major trading currencies. It depreciated by 0.36 percent against US dollar to trade at KES 103.53. Kenyan Shilling decreased against British pound by 0.41 percent to end at KES 162.33 and depreciated against the Euro to close at KES 115.20 by losing 1.50 percent. The Kenya shilling fell against South African rand to trade at KES 8.01 after plunging by 0.22 percent.