Kenya Equity Watch | 27 July 2015: the bear triumphs at Nairobi Securities Exchange, Kenya … market cap drop by US$21 million

Nairobi, Kenya (Capital Markets in Africa) —On Monday, at the Nairobi Securities Exchange trading floor the bear triumphed. The market capitalization fell by KES 2.13 billion (about US$21 million) to end at KES 2,142.84 billion relative to market capitalization of KES 2,144.97 billion recorded at previous trading session.  As the time, the Nairobi Securities Exchange (NSE20) index sagged by 39.15 points or 0.86 percent to close at 4,539.47 points and the Nairobi All Share Index tumbled by 1.45 points or 0.93 percent to settle at 153.03 points. On the hand, the FTSE NSE 15 index and FTSE NSE 25 index remained unchanged at 200.17 points and 199.91 respectively.

Looking at today’s market activities, the volume of shares traded dipped by 3.71 percent to close at 20.36mn. Total turnover dropped 3.42 percent to close at KES 461.39mn. Equity Group was the largest mover of the day with a turnover of KES 114.52mn representing 24.82 percent of the total market turnover.  Other top actively by turnover were SAFARICOM Limited recorded a turnover of KES 102.319 million and KCB Group registered KES 66.755 million. Also, Co-operative Bank and Centum Investment had KES 63.704 million and KES 29.911 million respectively. In term of type of investor, foreign buys stood at 76.60 percent of total turnover, while foreign sales stood at 51.48 percent of total turnover.

From the market price movers’ and shakers perspectives, Carbacid Investments Limited emerged as the top gainer after surging by 7.47 percent to end the day at KES 15.10. Standard Group Kenya climbed by 7.35 percent to close the day at KES 36.50 and KAPCHORUA TEA advanced by 5.26 percent to settle at KES 200.00. Similarly, Housing Finance Company Limited and British-American Investments Company Kenya ascended by 4.82 percent to settle at KES 21.75 and 4.18 percent with closing price of KES 14.95 respectively.

On the contrary, British-American Tobacco Kenya emerged as the top loser after falling by 8.61 percent to end the day at KES 743.00. Likewise, Express Limited Kenya traded at KES 5.00 by giving away 8.26 percent on 2,800 traded shares. On the same trend, WPP SCANGROUP Kenya and Olympia Capital Holdings tumbled by 5.92 percent to trade at KES 35.75 and 4.08 percent to end at KES 4.70 respectively. Sameer Africa Limited Kenya also plunged by 3.96 percent to conclude at KES 4.85 after investors bought and sold about 4,400 shares.

On currency market front, Kenya Shilling was weaker against majority of the trading currencies today. Kenyan Shilling lost value against US dollar by 0.56 percent to trade at KES 101.29. Also, Kenyan Shilling declined against British pound by 0.61 percent to end at KES 157.26 and against the Euro to close at KES 111.46, by losing 0.83 percent. But, Kenyan shilling appreciated by 0.22 percent against South African rand to trade at KES 8.03.