The Nairobi Securities Exchange (NSE) trended downward in today’s session (May 22, 20206), with all major indices closing in the red. The Nairobi All Share Index (NASI) closed at 205.76 points, down 0.03% from 205.82 points recorded in the preceding session.
The downturn was largely driven by losses recorded in large cap stocks such as Co-operative Bank (-0.6%), Stanbic Holdings (-0.6%), NCBA Group (-0.3%), and BAT Kenya (-0.2%).
The NSE 10 and NSE 25 indices fell slightly by 0.01% and 0.11%, to 2,155.36 points and 5,667.82 points, respectively. Similarly, the NSE 20 and the Banking Sector Index declined marginally by 0.16% and 0.12%, to 3,485.23 points and 234.73 points, respectively.
However, the market was supported by gains in heavyweights including Absa Bank Kenya, Safaricom PLC, Standard Chartered Bank, and East African Breweries Limited which gained 0.5%, 0.5%, 0.1%, and 0.1%, respectively.
Trading activity gained momentum, with the volume of shares traded rising 12.1% to 18.89 million shares. Equity turnover, jumped 9.9% to KES 757.8 million, while market capitalization stood at KES 3.41 trillion, down 0.03%.
NSE Top Gainers and Losers
Kakuzi PLC gained the most, rising by 6.2%, followed by Nation Media Group, which rose 5.3%. Olympia Capital Holdings edged higher by 4.7%, while WPP ScanGroup climbed 4.2%. Longhorn Publishers rounded out the top gainers after advancing 3.9%.
On the loser’s side, Sasini PLC topped the chart after shedding 8.7%. Uchumi Supermarkets followed after losing 5.3%. Eaagads PLC dropped 4.9%, while Unga Group declined by 3.0%. Jubilee Holdings closed the list, edging lower by 2.9%.
Foreign Investors
Foreign investors remained bearish, recording net outflows of KES 78.55 million, compared to net outflows of KES 120.58 million recorded in the prior session. Equity Group led the buying activity, while Absa Bank Kenya recorded the highest foreign selling activity.
Fixed Income Segment
Trading activity on the secondary bond market was strong, with turnover surging 108.1% to KES 8.32 billion. Meanwhile, the Bond Index closed at 1,174.18 points, up 0.6% compared to the previous session.
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