The Kenyan Wallstreet Weekly Market Report
After declining for three Weeks in a row, Nairobi Securities Benchmark index(NSE 20) gained 90.82 points (+2.32%) on Friday to stand at 4010.82 points. Nairobi All Share Index (NASI) ended the week 1.47 points higher to stand at 147.55 points while the NSE 25 Share Index was up 63.43 points(1.52%) to stand at 4236.96 points.
Last week,total turnover rose to Kes.3.3 Billion compared to the previous week’s Ksh 2 Billion as the number of shares exchanging hands was at 128 Million against 75M posted the previous week.
Focus On Safaricom
Safaricom was the leading mover accounting for 31.1% of the total market activity recording the highest net inflows of USD 2.2 Million; The counter moved 60 Million shares changing hands at between Kes.16.90 and Kes.17.85; this represented 46.96% of the week’s traded volume.
As seen from the chart below, Safaricom touched an 11 month high of Ksh 17.85 which is Ksh 0.05 cents shy from an all time high of Ksh 17.90.
Our view is that the huge movements in Safaricom could be driven by the Corporates & foreign investors who are taking positions in readiness for the Upcoming Safaricom Full Year Results release on 11th May. The counter has gained about 5% YTD.
During our random walk in the market, we spotted HSBC Frontier Markets Fund who in February held 7,523,100 Safaricom shares valued Ksh 130 149 630 with a weighting of 1.9% from their fund. See screen shot below
Notable Movements & New Records set
Despite reporting losses, Britam was the bull of the week gaining by 19.8%, the demand mainly driven by local retail investors.
As you can see from the chart below, Kenya Airways Stock set a new ALL TIME LOW during Friday’s trading session when it reached Ksh 4.00.
Mumias Sugar Company set a new ALL TIME LOW during Friday’s trading session when it reached Ksh 1.30, see below;
Upcoming Events during the Week
This will be one of the busiest weeks for investors as there are several events lined up including AGMs, results releases & More. Kindly keep checking our events portal as some of the major events will be updated during the week when we receive them.
The Biggest Event of the week
Results Release
Major Market Events happening on 29th April 2016
Annual General Meetings(AGMs)
Corporate Actions Maturing by 29th April
- Equity Bank,& Barclays Bank Dividend Payment on 29th
- EABL Dividend Payment on 29th April
- Housing Finance Group Book Closure on 29th April
- E.A Breweries Interim Dividend Payment on 29th April
- Kenya Power Interim DIvidend Payment 29th April
Economic Events;
Kenya 4th Quarter GDP Figures release
May The Trades be with you…
