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NSE Weekly Market Review – Week 24, 2021

Backed by stability in various stock prices, the market capitalization of the Nairobi Securities Exchange (NSE) was flat this week to Kes 2.684 Trillion from the Kes 2.683 Trillion recorded in the previous week. The market saw a stable rise in major counters with a decline in level of share price decline on the losers side.

The overall market activity declined, with the equity turnover posting a 50.96% to Kes.2.37 billion from the Kes.4.82  billion posted in the preceding week. Total number of shares traded on the exchange for the week stood at  66.94 million, a 51.2% drop in shares exchanging hands as compared to the 137.17 Million shares recorded in the previous week.

The benchmark All share index of the Nairobi Securities Exchange (NASI) maintained an upwards trajectory, adding 0.05 points or 0.03% in weekly gains to close Friday at 172.38 points. This represented a 4-week gain of 5.15%, and an overall year-to-date gain of 13.33%.

The NSE20  share index posted a decline, loosing 10.71 points or 0.56% while the NSE25 share index was up by 2.16 points or 0.06% to close the week at 1,901.21 and 3,747.26 points respectively. The NSE 20 and the NSE25 share indices have gained up-to 1.76% and 9.72%% respectively in year to date performance.

The NSE20 Share Index, technical one year performance chart.

Safaricom Plc emerged as week’s most traded stock this week, with 28.7 million shares valued at Kes.1.20 billion transacted. Safaricom’s shares traded between Kes.41.25 and Kes.42.20; this represented 50.56% of the weeks traded value.

The Banking Sector had shares worth Kes.678 million transacted which accounted for 28.68% of the week’s traded value. Equity Group Holdings Plc posted a 1.59% share price appreciation to Kes.44.75, up from Kes.44.05 registered the previous week with shares worth Kes.432 million transacted. KCB Group Plc moved 1.6 million shares valued at Kes.70 million and closed at Kes.42.55. ABSA Bank Kenya unchanged at Kes.10.10 moved 6.5 million shares valued at Kes.66.7 million.

The Manufacturing & Allied Sector had shares worth Kes.376 million transacted an equivalent of 15.93% of the week’s traded value. East African Breweries Plc moved 1.8 million shares worth Kes.362 million at a fairly stable price of Kes.189.00. BAT Kenya Plc was down 3.12% to Kes.450.50 with 30,000 shares valued at Kes.13.6 million transacted.

Standard Group Plc was the week’s top gainer, adding 16.13% in investor wealth to close the week at Kes 18.00 per share while Unga Group Plc was the week’s top loser, with the shares closing the week at Kes 26.10 per share, a 10.00% decline from last week’s close of Kes 29.00 per share.

NSE
Standard Group Plc, one year technical performance chart
NSE Weekly Bonds & Derivatives Overview

The Derivatives Market of the Nairobi Securities Exchange closed the week with a total of 300 contracts valued at Kes. 10.4 million transacted, this was a notable increase in activity on the NEXT as compared to the 56 contracts valued at Kes. 2.7 million posted in the preceding week.

Trading on the secondary bond market at the Nairobi Securities Exchange posted a 30.61% growth in activity with Kes.21.75 billion worth of bonds traded against the Kes 16.65 billion worth of bonds transacted in the previous week.