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NSE Weekly Market Review – Week 18, 2021

The Nairobi Securities Exchange (NSE) was mixed during the week with investors looking on various global trends. Foreign investors who dominate the market were keen to look on the U.S Jobs data and China’s economic data which was released on Friday.

The All Share Index continued it’s upward outlook, with a 1.15%% gain to close the week at 171.09 basis points from the 169.15 points recorded the previous week. This was equivalent to a 4-week gain of 7.88%, and an overall year-to-date gain of 12.48%.

The NSE 20 share index was however down, shedding 4.08 points or 0.22% to close Friday at 1,862.50 points while the NSE25 share index added 50.95 points or 1.39% from last week’s close to stand at 3,725.72. The NSE 20 has shed 0.32% while the NSE25 has gained up-to 9.09% respectively in year to date performance.

Volume of shares trade for the week stood at 74.02 million shares, a 0.8% decline as compared to the volume of 74.62 million shares transacted in the previous week. The bourse’s equity turnover for the week was up by 9.04% to Kes 2.67 billion from last week’s Kes 2.45 billion

The market capitalization of the NSE posted a marginal gain of 1.15% at Kes 2.63 trillion from the 2.60 trillion posted the previous week. The gains could be attributed to the stable activity in Safaricom the positive rise in KCB Group Plc.

The telecommunications sector was the week’s top mover, accounting for 65.47% of the week’s traded value with 42.96 million shares valued at Kes 1.7 Billion transacted. Safaricom was up 1.12% to close the week at Kes 40.80 per share, up from Kes 40.35 registered the previous week. The company had shares worth Kes.849 million transacted.

The Banking Sector came in second with shares worth Kes.766.8 million transacted which accounted for 28.71% of the week’s traded value. KCB Group Plc gained 4.22% in share price to close the week at Kes.41.95 with 6.9 million shares valued at Kes.289 million transacted. Equity Group Holdings Plc was similarly up by 4.09% to Kes.40.75, up from Kes.39.15 registered the previous week with shares worth Kes.264 million transacted.

NSE IM Holdings
I&M Holdings Plc, one year performance chart

During the week, I&M Holdings Plc announced that they had completed acquisition of a 90.0% stake in Orient Bank Uganda, a transaction worth Kes 3.6 billion. I&M’s bonus books closure date is expected to be this coming Monday. I&M Holdings was down 3.29% in share price to close the week at Kes.42.60. I&M had 2.2 million shares valued at Kes.95 million transacted.

BOC Kenya Plc was the week’s top gainer on the Nairobi Securities Exchange (NSE), adding 12.65% in share price appreciation to close the week at Kes 69.00 per share from the Kes 61.25 per share posted in the previous week. Standard Group Plc was the week’s top laggard with a 10.00% share price decline to end the week at Kes 17.10 per share from the Kes 19.00 posted in the previous trading week.

NSE Bonds & Derivatives

The Derivatives Market of the Nairobi Securities Exchange closed the week with a total of 203 contracts valued at Kes. 8.2million transacted, this was a decline in transaction value from the 272 contracts valued at Kes.10.6 million posted in the preceding week.

Trading on the secondary bond market at the Nairobi Securities Exchange posted a 18.6% rise in activity with Kes.20.5 billion worth of bonds traded against the Kes 17.29 billion worth of bonds transacted in the previous week.