Market Report 02/08/2016
Safaricom on Tuesday’s trading session continued to set new records after the counter hit an all-time high of Kes.21.00 before retreating to close the day at Kes.20.00. At market close, the company’s market capitalization stood at a record Ksh 801 Billion, this higher than the value of all the NSE listed banks and EABL merged, according to the Business Daily.
The surge in Safaricom is attributed to last week’s announcement of a special dividend of Ksh 0.68 per share, books close on 2nd September of this year.
READ; 01/08/2016 Market Report; Safaricom Market Cap hits Ksh 765.3 Billion, 37% of NSE.
However, turnover at the bourse declined to Kes.688 Million from Monday’s Kes.746 Million with the benchmark NSE 20 Share Index gaining by 18.37 points to settle at 3478.97. Nairobi All Share Index closed 1.69 points higher to stand at 144.60.
Banking Sector
The Banking Sector had 4.6M shares traded and represented 16.83% of the day’s traded volume. KCB Group actively moved 2.3M shares at between Kes.31.75 and Kes.32.50. Co-op ban up five cents to Kes.14.55 moved 846,000 shares. Equity Group Holdings moved 839,000 shares and closed at Kes.37.50.
Deacons plunges on its First Trading Day
Commercial & Services Sector moved 1.3M shares, which accounted for 4.90% of the day’s traded volume. Deacons (East Africa) Plc was listed on Tuesday at the NSE and began its first day of trading moving 448,000 and closed at Kes.13.80 against the listing price Kes.15.00.
The Insurance Sector moved 335,000 shares, which accounted for 1.21% of the day’s traded volume. CIC Insurance unchanged at Kes.4.30 moved 195,000 shares.
READ; CIC Insurance half year top line numbers decline,net Profits up 49%..
Manufacturing & Allied Sector Manufacturing & Allied Sector moved 648,000 shares, which represented 2.34% of the day’s traded volume. E.A Breweries declined to Kes.286.00 on a volume of 362,000.
The Bond Market
The Bond market registered reduced activity with bonds worth 1.2bn transacted against 1.4M posted the previous session.
