The Nairobi Securities Exchange Market turnover dropped by 70.90% to Kes 372Million from yesterday’s Kes.1.2 billion due to drop in volumes transacted caused by dip in trade on Equity Bank. Safaricom, Equity Bank and KCB Bank.
INDICES
The NSE 20 Share Index was down 24.11 points to close at 3750.98,nearing a four year low. All Share Index (NASI) shed 1.21 points to settle at 145.16 as 24 counters were seen on the red zone while 9 counters were up and 32 showing no movement in prices. Market Capitalization shrunk by 0.83%.
Banking Sector
The Banking Sector had 4.3Million shares traded and represented 26.93% of the day’s traded volume. Equity Group Holdings had 1.4M shares exchanging hands at between Kes.39.50 and Kes.40.50.
KCB Group lost 0.71% to close at Kes.34.75, last seen in January 2013(See attached Chart).
On the other hand, Co-op bank moved 887,000 shares and closed at Kes.16.90.
Construction & Allied Sector
The Construction & Allied Sector moved 417,000 shares, which accounted for 2.58% of the day’s traded volume. Athi River Mining moved 412,000 shares at between Kes.32.00 and Kes.33.00.
Energy& Petroleum
The Energy & Petroleum Sector had 388,000 shares traded and represented 2.41% of the day’s traded volume.In Q1-2016, Kenol Kobil recorded biggest market share gain (+3.0%) to 15.7% cutting the lead held by Total Kenya Limited (18.5%-stagnant) and Shell 17.6% (+1.5%). This was due to an increase in number of contracts and deliveries to petrol station plus maintaining the lead in jet fuel market.
Kenya Power & Lightning unchanged at Kes.9.90 moved 166,000 shares. KenGen moved 102,000 shares and closed at Kes.6.65.
Insurance
The Insurance Sector moved 505,000 shares, which accounted for 3.13% of the day’s traded volume. Britam Holdings up fifteen cents to Kes.14.75 moved 319,000 shares.
Manufacturing& Allied
Manufacturing & Allied Sector moved 992,000 shares, which accounted for 6.15% of the day’s traded volume. Mumias Sugar moved 955,000 shares at between Kes.1.30 and Kes.1.35.
Telecommunication & Technology
Safaricom actively moved 9M shares at between Kes.17.65 and Kes.18.35.
The Bond Market
The Bond market had bonds worth Kes.4.8billion transacted.
The Kenya Shilling
The Kenyan shilling was stable on Wednesday in slow business with many market players staying on the sidelines to await the outcome of the Brexit vote, traders said. As of 0939 GMT, commercial banks quoted the shilling at 101.10/30 to the dollar, little changed from Tuesday’s close of 101.10/20.
#UPDATE
Kenya Shilling Vs USD little changed from Yesterday's 101.10/20
Market players on sidelines ahead of #BREXIT pic.twitter.com/EThllhOmjG— Kenyanwallstreet (@kenyanwalstreet) June 22, 2016
Upcoming events on 23rd & 24th
23- The BREXIT Vote– British referendum that will decide the U.K.’s relationship with Europe for generations to come
24 BRITAM 2016 AGM
24- Nation Media Group 2016 AGM
