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Market Report; 09 July, 2021, Kakuzi Plc among Top Losers

At the end of the last weekday of trading on the Nairobi Securities Exchange.

A total of 17,825,500 shares in 986 deals, corresponding to a market value of KES 938,335,577.00, were traded.

Compared with the previous NSE trading day (Thursday, July 8), today’s data shows 8% decline in volume, 81% improvement in turnover, but 19% decline in deals.

The current market capitalization of the Nairobi Securities Exchange is KES 2.66 trillion.

In the aggregate, 47 NSE listed equities participated in trading, ending with 17✅ gainers and 16 🔻losers.

Sameer Africa Plc [SMER] led the gainers with✅ 8.71% share price appreciation closing at KES 3.37 per share, followed by:

✅East African Cables Plc [CABL] (+6.15%)
✅Standard Group Plc [SGL] (+5.56%)
✅Uchumi Supermarkets Plc [UCHM] (+3.85%).

On the losing side, Crown Paints Plc [CRWN] came out last with an end-of-day price depreciation of 🔻9.93% at KES 26.30 per share, followed by:

🔻Kakuzi Plc [KUKZ] (-7.96%)
🔻Umeme Plc [UMME] (-5.15%)
🔻Bank of Kigali Group Plc [BKG] (-3.7%).

Safaricom Plc [SCOM] recorded the highest volume of 4.1 million traded shares, followed by:

➖Equity Group Holdings Plc [EQTY] (3.44m)
➖Absa Bank Kenya Plc [ABSA] (2.96m)
➖East African Breweries Plc [EABL] (2.31m)

➡️The benchmarks NSE All-Share Index [NASI] declined🔻0.42 points to close at 175.22
➡️The NSE 20 Share Index gained✅6.30 points to close at 1951.41
➡️The NSE 25 Share Index declined🔻 1.71 points to close at 3865.03

Bonds & Derivatives on NSE

The derivatives market of the Nairobi Securities Exchange posted a rise in activity during Today’s trading session, with 25 single stock futures contracts valued at Kes 1.06 million concluded, compared to the 27 contracts valued at Kes 980,100 concluded on the previous session.

Trading on the secondary bond market on the Nairobi Securities Exchange posted a rise in activity during today’s trading session with bonds worth Kes 6.15 billion transacted in 116 deals as compared to the Kes 5.80 billion worth of bonds achieved in 126 deals in the preceding session.

Market Outlook

Kakuzi Plc was among the top losers in today’s trading session having recorded a 7.96 decline. This is despite the agricultural company recently announcing plans to strengthen its avocado smallholder base as part of a shared prosperity business plan.

Earlier this year Kakuzi announced that shareholders are expected to approve payment of the first and final dividend of Kes 18.00 per share for the financial year ended 31st December 2020.

Investors are therefore looking forward to more activity from the company at the Nairobi bourse following the rise in agricultural exports in the country.