NSE Weekly Market Review – Week 49, 2020

The benchmark all share index of the Nairobi Securities Exchange [NASI] gained by 3.36% during the week to close the week at 148.12 from last week’s close of 143.30 basis points. The performance put NASI on a 4-week gain of 4.81%, but an overall year-to-date loss of 10.99%.

The NSE20 and the NSE25 share indices were similarly higher, gaining 1.61% and 2.16% to close the week at 1,786.42 and 3,312.97 points respectively. The NSE20 and the NSE25 share indices have shed up to 32.70% and 19.21% in year to date performance respectively.

Turnover of the equities market exponentially rose by 128.61% to Kes.5.32 billion from the Kes.2.33 billion achieved in the preceding week. The week’s gain on the market was predominantly driven by increased foreign investor activity with most foreign investors being net buyers with a participation rate of 66.8%). Volumes traded on the exchange similarly rose by 122.83%, with 164.83 million shares exchange hands as compared 73.97 million shares traded in the previous week.

Safaricom regained the weekly top feature, rose by 5.02% to Kes.33.50, up from Kes.31.90 registered the previous week with shares valued at Kes.3.0 billion transacted; this represented 59.33% of the week’s traded value.

The banking sector had shares worth Kes.1.9 billion transacted accounting for 36.07% of the week’s traded value. Equity Group Holdings Plc rose by 1.89% to Kes.35.05, up from Kes.34.40 registered the previous week with shares worth Kes.989 million transacted. KCB Group down 1.21% to Kes.36.70 moved 23 million shares valued at Kes.853 million.

During the week, the Nairobi Securities Exchange lifted the suspension of trading on shares of Nairobi Business Ventures limited [NBV]. The lifting of NBV pushed the share to a high of Kes 4.30, a 505.63% gain in price from the share-price of Kes 0.71 when the shares was suspended.

Trading on the secondary bond market at the Nairobi Securities Exchange saw a decline in activity with bonds, posting a 53.65% decline in turnover at Kes.7.95 billion worth of bonds traded against the Kes 15.85 billion worth of bonds transacted in the previous week.

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