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Trading yesterday saw a 73% decline in turnover from Monday’s Ksh 1.47 Billion to Ksh 393 Million. A decline in volume was also experienced from 53.9 Million shares traded to 15.4 million shares.
The highest volume being Safaricom at 11.5 million shares traded with 72.6% of this being foreign investor activity. Equity Group Holdings Plc was second with 927,700 shares traded. Analysts from Citi Research. have Issued Strong Buy Recommendation on Safaricom stock. Longhorn Publishers and KCB Group closed on the top 4 of the list with over 400,000 shares transacted.
The NSE All Share Index gained 1.71 points to close at 133.55. The NSE 20 share index, a price weighted index which is an average of the 20 best performing stocks, dropped 5.12 points to close at 2052.85. The index has been on a decline over the last week closing at 2317 on 11th March.
Analysts see the index dropping further to below the 2000 mark. One year analysis of the Index shows a 29.1% decrease from 2896.04 to Tuesday’s close of 2052.85
The best Performing stock of the day was Trans Century Plc gaining up to 10% of its share price value to close the day at Ksh. 1.98. Uchumi Supermarkets and Stanbic Holdings Plc also recorded high day increase in share price of 7.14% and 6.63% respectively. Kapchorua Tea Company Limited which sells tea products under the brand name Williamson Tea was the day’s top loser shedding 9.09% of its share price value, closing at Ksh. 65.00 per share.
Rates for the 91-Day , 182-Day and 364-Day Treasury bills stood at 7.313% , 8.104% and 9.1% respectively. The shilling was trading at 103.39 against the dollar, a 0.5% drop from Monday’s 102.90
Related:
Kenya Markets Daily, Monday 16th March
