Nairobi Securities Exchange(NSE) this Thursday recorded a reduced level of activity that saw the daily equity turnover decline to KSh 339 Million from the previous KSh 701 Million, a drop of 51.6%.
Activity at the bourse was dominated by foreign investors at 73% and local investors at 23%, with foreigners dominating activity in most of the blue-chip banking counters-KCB, Equity and Standard Chartered Bank Kenya, which have all released impressive Q3, 2021 financials and attractive interim dividends.
The number of shares traded also declined to stand at 9.7 Million against Wednesday’s 16.5 Million shares, a decrease of 41.2%.
NSE TOP PRICE GAINERS
Olympia Capital was the day’s top gainer, its share price rising 9.34% to KSh 1.99 followed by Express Kenya which gained 7.34% to KSh 3.80, HF Group which was up 6.46% to KSh 4.78, New Gold which was up 6.34% from KSh 1,815.00 to KSh 1,930.00 and Eveready which gained 5.38% from KSh 0.93 to KSh 0.98 per share.
NSE TOP LOSERS
The day’s laggards were led by Nairobi Business Ventures which declined by 7.87% to KSh 4.10 followed by NSE which fell 3.29% to KSh 8.22; Britam which fell 2.77% to KSh 7.02; CIC Insurance which shed 2.59% to KSh 2.26 and Centum whose share price declined by 1.95% from KSh 15.35 to KSh 15.05.
The top traders this Thursday were KCB, Safaricom and Equity Group. The counters’ turnover stood at KSh 128Million, KSh 106Million and KSh 64Million, respectively.
KCB moved a volume of 2.8 Million followed by Safaricom( 2.7 Million), Equity( 1.2 Million), KPLC( 474,100) and Nairobi Business Ventures(444,400).
The NSE 20 Share Index was down 9.60 points to stand at 1890.59, the NSE All-Share Index(NASI) shed 0.20 points to 169.50 and the NSE 25 Share Index was up 6.07 points to settle at 3745.85
The Banking Sector dominated activity at the bourse with shares worth KSh 220 Million transacted which accounted for 64.86% of the day’s traded value.
Safaricom had 2.7 Million shares valued at KSh 105.8 Million transacted at between KSh 39.60 and KSh 39.95, representing 31.21% of the day’s traded value.
NSE FIXED INCOME MARKET:
The Secondary bond market turnover was up, increasing by 45.58% to KSh 3.22Billion from KSh 2.21Billion worth of bonds traded previously. The number of deals increased to 118 from 106 recorded in the previous session.
The IFB1/2020/11YR was today’s most traded bond. Consequently, the FTSE Bond index edged down to 96.53.
NSE DERIVATIVES MARKET SEGMENT
In the Derivatives market, 3 contracts worth KSh 129,420 were concluded compared to 17 contracts worth KSh 635,930 at the previous session.
The Kenya Shilling depreciated against the greenback to trade at KSh 112.109 compared to KSh 111.012 recorded in the previous session.
On a year-to-date basis, the Kenya Shilling has depreciated by 2.59% as compared to a 7.7% depreciation in 2020.
According to AIB/AXYS Africa Research Daily Market Report, the recent increase in petrol and diesel prices has contributed to the current depreciation of the Kenya Shilling.
Analysts anticipate that diesel and petrol prices will continue to increase as they trail global crude oil prices which have been on the rise due to global economic demand growing.
This will exert more pressure on the Kenya Shilling which is likely to lead to further depreciation.