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NSE Weekly Market Review – Week 07, 2021

The Nairobi Securities Exchange (NSE) closed the week with an overall sustained bullish note pushed up by the continuous in prices in the banking counters and the telecommunications sector, the rise was also coupled by the impressive results of British American Tobacco (BAT) Kenya Plc, with a 34.3% increase in dividend to Kes 45.00 (dividend yield at 9.30%).

The All Share Index moved up 0.93%% to close the week at 165.55 basis points as against the 164.02 points recorded the previous week. This was equivalent to a a 1-week gain of 0.93%, a 4-week gain of 6.92%, and an overall year-to-date gain of 8.84%.

The NSE 20 share index shed 1.30 points or 0.07% to close Friday at 1,888.47 points while the  NSE25 share index added 26.51 points or 0.73% from last week’s close to stand at 3,638.57. The NSE 20 and the NSE25 share indices have gained up-to 1.07% and 6.54% respectively in year to date performance.

The bourse’s weekly equity turnover was up, gaining 21.69% to Kes 2.48 billion from last week’s Kes 2.034 billion. The volume of shares traded at the exchange was up 7.04% to close the week with 72.81 million shares exchanging hands as compared to the 68.02 million
traded in the previous week.

The region’s largest company by market capitalization Safaricom Plc, rose by 1.04% to Kes 38.75, up from Kes.38.35 registered the previous week with shares worth Kes.1.1 billion transacted; this translated to a 44.85% of the week’s traded value. During the week, there was purported news of Safaricom being shortlisted for license in Ethiopia, seeing the share price touch an all new high of Kes 39.25 per share. Safaricom later eased after the Ethiopian Communications Authority later denied this news and said it was yet to offer receive any formal bid.

NSE Nairobi Securities Exchange Safaricom
Safaricom Plc Technical chart – One Year price chart

The Banking Sector had shares worth Kes.780 million transacted which accounted for 31.54% of the week’s traded value. KCB Group Plc rose by 3.95% to Kes.39.50, up from Kes.38.00 registered the previous week with shares worth Kes.304 million transacted. Equity Group Holdings Plc was up 1.59% to Kes.38.45 with 7 million shares valued at Kes.271 million transacted.

The Manufacturing & Allied Sector had shares worth Kes.409 million transacted which represented 16.54% of the week’s traded value. East African Breweries Plc declined by 2.29% to Kes.171.00 and had 2.3 million shares valued at Kes.399 million traded. B.A.T Kenya Plc edged up 14.06% to Kes.484.75 moving 18,000 shares valued at Kes.8.8 million.

Sameer Africa Plc was the top gainer, adding 20.00% in investor wealth to close the week at Kes 3.60 per share while Olympia Capital Holdings was the week’s top laggard, with the shares closing the week at Kes 2.00 per share, a 12.28% decline from last week’s close of Kes 2.28.

NSE Nairobi Securities Exchange
The NSE 20 Share index one year performance chart
NSE Weekly Bonds & Derivatives Overview

The Derivatives Market of the Nairobi Securities Exchange closed the week with a total of 56 contracts valued at Kes. 2.7 million transacted, this was a notable increase in activity on the NEXT as compared to the 33 contracts valued at Kes. 1.0 million posted in the preceding week.

Trading on the secondary bond market at the Nairobi Securities Exchange posted a 22.13% declined in activity with Kes.17.37 billion worth of bonds traded in the fixed income segment against the Kes 22.31 billion worth of bonds transacted in the previous week.