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NSE Weekly Market Review – Week 20, 2021

Activity on the Nairobi Securities Exchange (NSE) was flat during the week as investors continued to trade amidst news of the global economic activities. News from the minutes of the Federal Open Market Committee and continuous news of systematic reopening of the European economy.

The All Share Index was flat during the week, closing the week at 165.76 basis points. This was equivalent to a 4-week loss of 0.13%, but an overall year-to-date gain of 8.97%.

The NSE 20 and the NSE 25 share indices were down during the week. The 20 share index shed 4.38 points or 0.24% to close Friday at 1,858.87 points. The NSE25 share index was similarly down by 0.18 points or 0.01% from last week’s close to stand at 3,586.44. The NSE 20 has shed 0.51% while the NSE25 has gained up-to 5.01% respectively in year to date performance.

NSE 20 Share Index, one year chart performance

Volume of shares trade for the week stood at 93.17 million shares, a 14.9% increase as compared to the volume of 81.09 million shares transacted in the previous week. The bourse’s equity turnover for the week was up by 4.21% to Kes 3.18 billion from last week’s Kes 3.05 billion

The market capitalization of the Nairobi Securities Exchange was marginally flat during the week at Kes 2.581 trillion from the 2.580 trillion posted the previous week.

The telecommunications sector was the week’s top mover, accounting for 81.49% of the week’s traded value with 66.9 million shares valued at Kes 2.5 Billion transacted. Safaricom was up 0.25% to close the week at Kes 39.50 per share, up from Kes 30.80 per share registered the previous week.

The Banking Sector came in second with shares valued at Kes.393 million transacted. This accounted for 12.36% of the week’s traded value. Equity Group Holdings Plc was up by 1.34% in share price appreciation to Kes.41.50, up from Kes.40.95 registered the previous week with shares worth Kes.189 million transacted. KCB Group Plc however closed the week lower, declining by 2.26% to Kes.41.00 with 3.4 million shares valued at Kes.139 million transacted.

Co-operative Bank slipped by 1.61% after releasing the Q1 performance to Kes.12.25  per share by close of trading Friday. For the week, the bank had 2.7 million shares valued at Kes.33 million traded. Co-operative Bank posted a 3.7% y/y decline in after tax profits to Kes 3.5 billion (1Q2020: KES 3.6 billion).

NSE Kenya
Co-op Bank Kenya [COOP] technical performance chart
Uchumi Supermarkets Plc was the week’s top gainer on the Nairobi Securities Exchange, adding 13.04% in share price appreciation to close the week at Kes 0.26 per share from the Kes 0.23 per share posted in the previous week. Unga Group Plc was the week’s top laggard with a 11.95% share price decline to end the week at Kes 28.00 per share from the Kes 31.80 posted in the previous trading week.

NSE Bonds & Derivatives

The Derivatives Market of the Nairobi Securities Exchange closed the week with a total of 271 contracts valued at Kes. 9.8 million transacted, this was a decline in transaction value from the 203 contracts valued at Kes.8.2 million posted in the preceding week.

Trading on the secondary bond market at the Nairobi Securities Exchange posted a 5.63% rise in activity with Kes.22.39 billion worth of bonds traded against the Kes 21.19 billion worth of bonds transacted in the previous week.