Weekly ReviewNSE Weekly Market Review – Week 29, 2021

The Nairobi Securities Exchange, Westlands, Nairobi Kenya

Activity on the Nairobi Securities Exchange (NSE) was fairly flat as investors focus remained on some of the top counters (blue-chip) for a second week running. Activity was flat as well, looking in from turnovers and also on the major stocks which moved the week.

Equity turnover on the exchange was at 1.84 billion, a 0.36% rise from the Kes 1.83 billion traded from the preceding week with foreign investors accounting for 61.52% of the week’s total activity. Foreign investors continued to dominate activity on Safaricom Plc while local investors took in the lead on trading on Diamond Trust Bank Kenya.

The benchmark all share index of the Nairobi Securities Exchange (NASI) was on the rise this week, adding 0.33 or 0.18% week on week to close the week at 178.98 points. This NASI now stands at 17.66% in year to date performance.

The NSE 20 and the NSE 25 share indices were similarly on the positive edge, with the 20 share index gaining 9.58 points or 0.49% and the 25 share index gaining 6.54 points or 0.17% to close the week at 1,981.91.points and 3,895.50 basis points respectively. The NSE 20 and the NSE25 share indices have gained up-to 6.08% and 19.92% respectively in year to date performance.

The NSE 25 Share Index, one year technical performance chart

Safaricom Plc continued to hold the top spot during the week, with 25 million shares valued at Kes.1 billion changing hands at between Kes.41.75 and Kes.43.00; this represented 58.60% of the weeks traded value. The company continued to gain more activity even as news came in late Friday that Vodafone’s CEO had commented on the possible spinoff of the M-Pesa business from the telecommunications business.

The Banking Sector had shares worth Kes.651 million transacted which accounted for 35.46% of the week’s traded value. Diamond Trust Bank Kenya came in top with shares worth Kes.257 million transacted, the bank shares declined by 1.89% to Kes.65.00, down from Kes.66.25 registered the previous week. Equity Group Holdings Plc was down 1.44% to Kes.47.85 with 4 million shares valued at Kes.196 million transacted. KCB Group Plc had 2.5 million shares valued at Kes.166 million and closed the week at Kes.44.55 per share.

Liberty Kenya Holdings Plc was the week’s top gainer, adding 22.56% in investor wealth to close the week at Kes 9.56 per share while Nairobi Business Ventures was the week’s top loser, with the shares closing the week at Kes 9.06 per share, a 17.26% decline from last week’s closing price.

tradingview chart
Liberty Kenya Holdings 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 87 contracts valued at Kes. 2.9 million transacted, this was a decline in turnover and volume on the NEXT as compared to the 121 contracts valued at Kes. 4.1 million posted in the preceding week.

Trading on the secondary bond market at the Nairobi Securities Exchange posted a 27.41% decline in activity with Kes.18.58 billion worth of bonds traded against the Kes 25.60 billion worth of bonds transacted in the previous week.

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