Market Report 03/Feb/2016
Nairobi Securities Exchange continued posting positive results with NSE 20 Share index adding 23.79 points to close 0.63% higher. ARM, Kengen and Safaricom supported the upward direction.
Turnover stood at Kes.865M against Kes.841M, the number of Shares traded stood at 24.4Million.
NSE 25 Share Index advanced by 1.09% while NASI moved up 1.65%. Turnover improved by 2.80% despite the fact that volumes dropped by 1.16%. Safaricom, Equity, KCB and EABL dominated the volumes and turnover. Capitalization was at the border of the sentimental KES 2Tn mark after recouping KES 32.60Bn in value.
Foreign activity stood at 64.78% with a net sale. Safaricom, CO-Operative bank and EABL led on inflows whereas Equity and BBK topped on outflows.
Energy sector saw Umeme as the only loser shedding 2.41% as the other counters rallied the index with upward moves. Kengen improved in value closing at an average of KES 6.35 (+4.96%)
The Kenya Shilling
Kenya’s shilling was little changed in early trading on Wednesday, with limited corporate demand for dollars matched by modest inflows of foreign exchange from tea exports and charities. By 0721 GMT, the shilling was quoted by commercial banks at 102.15/35 to the dollar, compared with Tuesday’s close of 102.25/35.
“Demand (for dollars) is subdued. There are no big buyers,” said one trader at a commercial bank.
The shilling has barely moved out of the 102.00/50 range since mid November, after weakening 11 percent against the dollar during 2015.
