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NSE Weekly Market Review – Week 22, 2021

The Nairobi Securities Exchange (NSE) posted a sharp decline in activity during the week. The equities market turnover plummeted 53.6% to Kes.2.32 billion from the Kes.4.99 billion achieved in the preceding week. This was backed by the decline in investor trades on the telecommunications sector and as investors tried to get the balance off the rally of the previous week’s top stocks including Nation Media Group and Safaricom Plc.

The benchmark all share index of the Nairobi Securities Exchange (NASI) took a hit during the week, declining by 1.63% week on week to close the week at 169.87 points, the decline on NASI was mainly attributed to an overall decline in a vast majority of shares listed on the Nairobi Securities Exchange.

The NSE 25 share index was similarly down, shedding 20.70 points or 0.56% to close Friday at 3,692.00 points while the NSE20 share index was on the rise, posting gains of 46.67 points or 2.51% from last week’s close to stand at 1,908.82. The NSE 20 and the NSE25 share indices have gained up-to 2.16 and 8.1%% respectively in year to date performance.

NSE 20
The 20 Share Index of the Nairobi Securities Exchange, one year performance chart.

The banking sector was the most active sector on the Nairobi Securities Exchange with shares valued at Kes.1.1Bn transacted, accounting for 49.86% of the week’s traded value. Equity Group Holdings Plc actively moved 12.8 million shares valued at Kes.546 million during the week at between Kes.42.00 and Kes.43.00. KCB Group Plc moved 3.4 million shares valued at Kes.144 million and closed at Kes.42.25 per share. NCBA Group Plc was up 2.55% to Kes.26.10 per share and had 10 million shares valued at Kes.269 million.

The Manufacturing & Allied Sector was second in activity, with shares valued at Kes.567 million transacted which accounted for 24.52% of the week’s traded value on the Nairobi Securities Exchange. East African Breweries Plc closed 2.01% higher to Kes.190.00 with a volume of 2.5 million shares valued at Kes.479 million traded.

The telecommunications sector was third in activity with Safaricom declining by 3.23% to Kes.40.50, down from Kes.41.85 registered in the previous week. Safaricom had shares valued at Kes.547 million transacted; translating to 23.63% of the week’s traded value.

Nation Media Group [NMG] was the week’s top gainer on the Nairobi Securities Exchange (NSE), adding 31.01% in share price appreciation to close the week at Kes 22.60 per share from the Kes 17.25 per share posted in the previous week. BOC Kenya Plc was the week’s top laggard with a 9.63% share price decline to end the week at Kes 68.00 per share from the Kes 75.25 posted in the previous trading week.

Nation Media Group Plc, technical performance chart
NSE Bonds & Derivatives

The Derivatives Market of the Nairobi Securities Exchange closed the week with a total of 163 contracts valued at Kes. 6.4 million transacted, this was a decline in transaction value from the 311 contracts valued at Kes.12 million posted in the preceding week.

Trading on the secondary bond market at the Nairobi Securities Exchange posted a 61.61% drop in activity with Kes.13.91 billion worth of bonds traded against the Kes 36.23 billion worth of bonds transacted in the previous week.