Market Report Wednesday 27 April 2016
All NSE Kenya Market Indicators were on the red with volumes traded declining by 29.62% with huge drop witnessed in the banking sector and telecommunication. Market turnover also dropped by 50% to KES 313.14Million from the previous day’s KES 626.03Million.
After four days of continued upward trend, the benchmark NSE 20 Share Index fell by 27.69 points to stand at 3985.03 points which is below the key support point of 4000 points.
The drop was driven by the Banking sector led by DTB and KCB which lost 7.32% and 7.14% respectively. KCB Bank traded 0.54Million shares to settle at KES 39 as it took over the management of Chase Bank. Housing Finance gained 2.38% with investor incorporating the information on the Q1-2016 profit increase in the prices.
NSE 25 Share Index, NASI, FTSE 15 and FTSE 25 lost 0.28%, 0.39%, 0.08% and 0.05% respectively. Investors wealth declined by KES 8.1Billion with Foreign investors accounting for 71.66% of the total market activity with a net inflows. EABL had a large net foreign outflow which was absorbed by local investors.
Even as the blue chips were dropping, Speculative counters, Home Afrika, Eveready and Mumias emerged the top gainers with Longhorn Publishers trading 0.84Million of the rights issue at KES 0.01. The counter moved 0.11Million shares at an average of KES 4.60 (+0.99%) after trading at a y-t-d low of KES 4.55.
