The Nairobi Securities Exchange (NSE) experienced a session of bearish sentiment, with the Nairobi All Share Index (NASI) declining by 0.2% to close at 211.11 points. The market was primarily weighed down by losses in heavyweights such as Jubilee Holdings, British American Tobacco, and KCB Group. Despite the overall downturn, the Banking sector managed to edge up by 0.5%, supported by gains in NCBA Group (+2.7%) and Equity Group (+1.0%).
Trading activity saw a notable contraction, with total equity turnover decreasing by 36.4% to KES 428.38 million, compared to KES 673.42 million in the previous session. Foreign investors remained net sellers, recording net outflows totaling KES 36.11 million. Safaricom continued to dominate market activity, emerging as the most traded counter with an aggregate turnover of KES 135.55 million, followed closely by Equity Group at KES 127.39 million.
NSE Top Gainers and Losers
Leading the day’s top movers, Limuru Tea posted a sharp 5.5% gain to close at KES 539.00, while Uchumi Supermarkets posted a 4.4% rise to KES 2.15. In the agricultural sector, Eaagads Plc advanced 4.2% to KES 31.35, and Shri Krishana Overseas gained 3.0% to settle at KES 10.20. TPS Eastern Africa also featured among the gainers, rising 2.8% to KES 16.65.
On the losing side, Africa Mega Agricorp recorded the steepest decline, falling 5.0% to KES 110.50. BOC Kenya dropped 3.6% to KES 121.75, while E.A. Portland Cement shed 3.0% to close at KES 79.75. Kenya Airways continued its downward trend with a 2.2% loss, ending the day at KES 5.34. Centum Investments shed 2.0% to KES 14.80.
While the NSE 20 and NSE 25 indices posted marginal gains of 0.1% each, the broader NASI and the blue-chip NSE-10 both dipped by 0.2%. Overall market capitalization edged slightly lower by 0.2% to settle at KES 3.501 trillion.
Fixed Income and Debt Management
The financial market continues to react to major activity in government securities. The Central Bank recently concluded a highly successful auction for re-opened 20 and 25-year bonds, accepting KES 60.99 billion from bids that totaled over KES 117 billion. Additionally, a strategic switch auction for bond FXD1/2021/005 concluded on March 16, successfully migrating KES 18.4 billion in holdings to longer-dated 15-year papers to optimize the national debt profile.
Follow our WhatsApp channel here, our Telegram channel here, and our X page here., and our LinkedIn page here.
Also read: NSE Market Report: Bourse Begins the Week on a High Despite Decline in Trading Activity
