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NSE Weekly Market Review – Week 30, 2020

The Nairobi bourse closed the trading week mixed,  early in the week the All-Share Index dropped but ended the week higher, adding 2.34 points or 1.77% to close the week at 134.59 points. The year to date loss level for the NSE All share index stands at 19.12%.

Market capitalization similarly declined by a slighter margin to close at Kes 2.0 trillion. Accordingly, Year to date market return remained currently low.

Activity level on the market improved by volumes and slightly declined in values exchanged. The turnover for the market stood at Kes 3.3 Billion achieved on trades of 155 million shares from the 138 million shares valued at Kes.3.4 billion transacted the previous week.

Safaricom Plc was the most traded counter by volume and turnover at with shares worth Kes 1.88 Billion exchanging hands during the week. The share added 4.07% in price appreciation, closing the week at Kes 28.10 against the Kes 27.00 on the previous week.

The Banking Sector had shares worth Kes.896 million transacted, accounting for 27.13% of the week’s traded value. Equity Group Holdings shed 4.41% in share price with increased foreign sell off to Kes.32.50, with shares worth Kes.459 million transacted. KCB Group Plc was similarly down, shedding 2.55% to Kes.34.35

Market sentiment, as measured by market breadth, closed positive with the NSE closing the last trading day with 23 gainers against 18 losers.

The NSE All share Index on year chart Performance.

The Derivatives Market closed the week with a total of 43 contracts valued at Kes.1,165,330 while the secondary bond market on the Nairobi Securities Exchange closed the week slightly higher, with Kes.12.9 billion worth of bonds transacted compared to Kes.11.5Bn registered the previous week.

Outlook 
The coming week on the Nairobi Securities Exchange will likely turn higher as investors get a final rally for books closure for dividend consideration on Safaricom Plc and WPP Scangroup Plc.