Safaricom was the biggest mover at the NSE during the short trading week ended April 17th with 37million shares valued at KSh.1.0 billion changing hands at between KSh.26.30 and KSh.28.50. This represented 42.62per cent of the week’s traded value. However, the Banks remained dominant, transacting shares worth KSh 1.1 billion transacted. This accounted for 44.90 per cent of the week’s traded value.
The Equity Market closed the week with 79.8million shares valued at KSh.2.38 billion against 101 million shares valued at KSh.2.76 billion transacted the previous week.
In the Investment Sector, shares worth KSh.26 million was transacted which accounted for 1.09per cent of the week’s traded value. Centum was the most active counter during the week with 1.1million shares valued at KSh.26 million changing hands at between KSh.22.05 and KSh.23.45.
E.A Breweries and B.A.T were the mainly weekly features in the Manufacturing and Allied Sector. The brewer moved shares worth KSh 242 million at a price of KSh.148.00, up from KSh.145.00 registered the previous week.
B.A.T share price was up 1.32per cent to KSh.364.75 and traded 33,000 shares valued at KSh 12 million.
“The four-day trading week on the NSE was sufficient. Turnover declined slightly based on a price index. We expect activity to remain subdued in the coming period,” said Felix Ochieng, a dealer at Nairobi based Faida Investment Bank.
Activity at the bourse has been on a slowdown as foreign investors sell-off and exit major counters, including Safaricom as well as banking counters.
Although stock prices have declined, local investors are yet to actively enter the bourse due to what is seen as decline in purchasing power.
Earlier in the month, locals had implemented a defensive approach on the market which prevented a further shock after markets declined, pushing the NSE20 to multi-year lows.
Retail investors are becoming increasingly sceptical about maintaining a long term outlook with the uncertainty of the virus wave still in the picture.
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