A day before Kenya’s Supreme court annulled the August 8th Presidential election results, the country’s benchmark NSE 20 index closed at a decent 4,027 points.
Things have not been the same since the ruling on September 1st, stocks have continued to plummet with the benchmark index closing at a three month low of 3634.20 on Friday Oct 13. On the other hand, the market cap closed at Sh 2.33 Trillion. On paper, the market has lost more than Sh 200 Billion in the last 45 days!
While the market has fallen over this period due to political uncertainty, the fact remains that Kenyan stocks have outperformed most of the global markets having returned more than 19% on a year to date basis. This is based on the performance of the Nairobi All Share Index (NASI).
Between Aug 31 – Oct 12, only 11 stocks have been on the positive while 39 stocks have been on the red zone. Surprisingly, Uchumi has been the best performer over the period having gained by 17.89%.
Best Performing Stocks(Aug 31 – Oct 13)
| Company | Start Price
(Aug 31) | Price Gain | % Gain | Closing Price
(Oct 13) | ||
|---|---|---|---|---|---|---|
| 1. | Uchumi Supermarket | 3.08 | +0.55 | +17.89% | 3.63 | |
| 2. | Olympia Capital | 2.90 | +0.30 | +10.34% | 3.20 | |
| 3. | NSE Kenya | 17.80 | +1.70 | +9.55% | 19.50 | |
| 4. | Crown Paints | 70.00 | +6.50 | +9.29% | 76.50 | |
| 5. | Longhorn Publishers | 4.90 | +0.45 | +9.18% | 5.35 | |
| 6. | Stanbic | 78.00 | +2.50 | +3.21% | 80.50 | |
| 7. | Car & General | 18.90 | +0.45 | +2.38% | 19.35 | |
| 8. | Equity Group | 39.13 | +0.88 | +2.24% | 40.00 | |
| 9. | HF Group | 10.90 | +0.20 | +1.83% | 11.10 | |
| 10. | Centum Inv | 41.13 | +0.50 | +1.22% | 41.63 | |
| 11. | BAT Kenya | 801.00 | +6.00 | +0.75% | 807.00 |
Worst Performing Stocks
On the losers side, WPP Scangroup, ARM Cement & KCB Group have been the worst hit having lost by 22.80%, 19.08% and 17.78% respectively.
Interestingly, KenGen stock, which had gained by nearly 30% between 20th July to 14 Aug is now down by 10.31% since the Supreme court ruling. On the
Kenya power & KenGen have lost by 13.72% & 10.31% despite registering
| Stock | Start Price
(Aug 31) | Decl. | % Lost | Closing
(Oct 13) |
| 1 | WPP ScanGroup | 23.25 | -5.30 | -22.80% | 17.95 | |
| 2 | ARM Cement | 21.75 | -4.15 | -19.08% | 17.60 | |
| 3 | KCB Group | 45.00 | -8.00 | -17.78% | 37.00 | |
| 4 | National Bank | 11.90 | -1.90 | -15.97% | 10.00 | |
| 5 | Kenya Power | 11.30 | -1.55 | -13.72% | 9.75 | |
| 6 | KenolKobil | 16.80 | -2.30 | -13.69% | 14.50 | |
| 7 | Kapchorua Tea | 90.00 | -10.0 | -11.11% | 80.00 | |
| 8 | Barclays Bank | 10.65 | -1.15 | -10.80% | 9.50 | |
| 9 | Express | 4.20 | -0.45 | -10.71% | 3.75 | |
| 10 | NIC Bank | 40.50 | -4.25 | -10.49% | 36.25 | |
| 11 | KenGen | 9.70 | -1.00 | -10.31% | 8.70 |
