Global Markets

NSE Weekly Market Review – Week 44, 2020

Activity on the Nairobi Securities Exchange was on the lowering end this week, with the overall market breadth turning on the negative by the end of trading on Friday. The benchmark NSE All share index (NASI) posted a decline of  1.17 points or 0.83% to close the  trading week at 140.04 points. This represented a 4-week gain of of 0.11%, but an overall year-to-date loss of 15.85%.

The NSE 20 share index was down 15.61 points or 0.87% to close Friday at 1,783.68. points, the NSE25 share index similarly shed 45.79 points or 1.42% from last week’s close to stand at 3,170.87. The NSE 20 and the NSE25 share indices have shed up-to 32.80% and 22.64% respectively in year to date performance

The bourse by activity posted moderate gains, with the turnover rising to Kes 1.6 billion from the 1.3 billion posted the previous week. The volume of shares exchanging hands was similarly higher, with 57 million shares exchanging hands from the 52 million posted the previous week.

The telecommunications and banking sector had shares were most active in terms of turnover, with shares worth Kes.711 millions and Kes 632 million transacted, accounting for 42.31% and 37.62% of the week’s traded value respectively.

Safaricom remained fairly stable during the week, experiencing a mini -rally towards the end of the week, closing at Kes 30.85 per share. KCB Group Plc shed 2.70% in price during the week to Kes.36.05, down from Kes.37.05 registered the previous week with shares worth Kes.259 million transacted. Equity Group Holdings Plc was similarly down 1.31% to Kes.33.90 with 6.5M shares valued at Kes.224 million exchanging hands.

Standard Group Plc was the week’s top gainer, adding 15.79% in shareholder wealth to close the week at a price of Kes 25.30 per share while Express Kenya Plc bottomed out as the top looser, shedding 13.11% in price to close the week at Kes 3.91 per share.

The NSE 20 Share index one year performance chart

The Derivatives Market closed the week with a total of 7 contracts valued at Kes.239,000 this was a rise in number of contracts concluded but a decline in turnover as compared to last week’s  5 contracts valued at Kes.474,000.

Trading on the secondary bond market on the Nairobi Securities Exchange was marginally lower, with Kes 12.0 billion worth of bonds concluded against the Kes 13.0 billion posted in the previous trading week.

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