The Nairobi Securities Exchange began the week with the NSE 20 shedding 1.0% to close at 3,958.57 points compared to 3999.33 points posted on Friday. The NASI declined by 0.6% to close at 145.67.
Market turnover recorded 24.21% decrease to 10 Million shares against Friday’s 16 Million shares which were valued at Kes.432 Million.Volume was dominated by KCB, Safaricom and Equity Bank with 6.28Million shares traded representing 62.33% of the total volume while KCB, Equity Bank and Kakuzi Limited accounted for 67.61% of total turnover.
Foreign Investor Participation In The Banking Sector
Banking Sector Index was down 0.77%. The sector is down 2.99% for the last one week and -2.98% Year to date. National Bank advanced 5.00% to close at KES 10.50.
Foreign investors accounted for 61% of market activity with net sales.DTB Bank recording the highest net foreign outflows to close 0.5% lower at KES 209. KCB Bank dominated trading, contributing 45% of total market turnover to record net foreign outflows
CFC Stanbic fell by 3.7% to Ksh 90 but also recorded increased foreign selling while Co-op Bank recorded the highest net foreign inflows. NIC Bank shed 5.7% to KES 37.25 to emerge among the session’s top losers on account of increased local selling.
Notable Events In the Market on Monday
- •The government announced plans to merge the troubled National Bank Of Kenya and two other state owned lenders into one or two institutions.
- •The Capital Markets Authority (CMA) also fined National Bank an undisclosed amount of money for failure to publicly issue a profit warning ahead of announcing a surprise Ksh 1.5 Billion loss.
- •The NSE Market Capitalization stood at Ksh 2.05 Trillion representing a 0.57% decline from Friday’s Ksh 2.07 Trillion.
- •Marshalls Hit a new 11 year low when it reached Ksh 9.15.
- •The Kenya Shilling on Monday strengthened to an 8 Month record of Ksh 101.051 Against the US Dollar amid the Banking sector crisis. see Chart below;
Happening On Tuesday April 12
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