Kenya Equity Markets | 24 Aug 2015: Nairobi Securities Exchange invaded by the Bear leaving US$395 million sucked out…

Nairobi, Kenya (Capital Markets in Africa) — Nairobi Securities Exchange continued to be invaded by the Bear, as a result trading session ended negative. The market capitalization sagged by 2.03 percent or KES 42.61 billion (almost US$395.00 million) to end at KES 2,056 billion relative to market capitalization of KES 2,099 billion recorded at previous trading session.

The Nairobi Securities Exchange (NSE20) index slid by 1.54 percent or 67.83 points to close at 4,337.47 points and the Nairobi All Share Index went down by 3.26 points or 2.18 percent to settle at 146.40 points. The FTSE NSE 15 index and FTSE NSE 25 declined by2.66 percent to end at 188.75 points and plunged by 2.61 percent to settle at 187.94 points respectively.

Look at today’s market activities, volume of shares traded dropped by 74.69 percent to close at 14.51 million and total turnover also declined by 85.94 percent to close at KES 291.54 million. Safaricom was the largest mover of the day with a turnover of KES 99.88 million representing 34.26 percent of the total market turnover. Other most actively traded stocks were Equity Group recorded KES 89.565 million; Centum Investment had KES 24.981 million, KCB Group registered KES 22.381 million and East Africa Breweries Limited with a turnover of KES 15.428 million.

From the market movers and shakers, today’s price mover was Kachorua Tea Kenya which emerged as the top gainer after adding 9.63 percent to end the day at KES 239.00. Unga Group Limited soared by 8.98 percent to close the day at KES 45.50. Carbacid investment Limited surged by 5.73 percent to settle at KES 16.60. Similarly, Flame Tree Group Limited and Crown Berger Paints Limited advanced by 5.71 percent to end at KES 7.40 and surged by 3.73 percent to settle at KES 69.50 respectively.

Conversely, Atlas Development & Support Services emerged ended as the top loser after plunging by 9.62 percent to end the day at KES 7.05. British-American Tobacco concluded at KES 9.17 by falling by 9.17 percent and Home Afrika Limited slid by 6.82 percent to trade at KES 2.05. SAFARICOM Limited also somersaulted by4.33 percent to close at KES 14.35. Nairobi Securities Exchange decreased by 3.61 percent with a closing price of KES 20.00.

On foreign exchange market front, the Kenyan Shilling depreciated by 0.12 percent against US dollar to trade at KES 103.60 but increased by 0.10 percent to end at KES 162.28 against British pound. Kenyan Shillings also lost 1.44 percent against the Euro to close at KES 118.44 and fell by 0.12 percent against South African rand to trade at KES 7.99.