Weekly ReviewNSE Weekly Market Review – Week 30, 2021

The trading bell on the Nairobi Securities Exchange trading floor.

Market activity on the Nairobi Securities Exchange (NSE) extended a decline during the week as investors turned to the primary issue on the bond market. This came in during the week as investors waited on companies releasing their financial results and the final books closure for dividend consideration on Safaricom Plc.

The benchmark All-share Index of the Nairobi Securities Exchange (NASI) ended the week on a decline, shedding 1.46 points or 0.82% week on week to close the week at 177.52 points. The NASI now stands at 16.71 in year to date performance. The drop in NASI could also be attributed to the drop in majority of the stocks listed on the Nairobi Securities Exchange.

The NSE 20 share index and the NSE 25 share index were similarly on the falling edge, shedding 7.62 points or 0.38% and 5.41 points or 0.14% to close the week at 1,974.29 and 3,890.09 respectively. The NSE 20 and the NSE25 share indices have gained up-to 5.67% and 13.90%% respectively in year to date performance.

NSE 20 index tradingview
The NSE 20 Share Index, one year technical performance chart

Equity turnover on the exchange was at 1.69 billion, a 7.91% decline from the Kes 1.84 billion traded from the preceding week. Local investors and foreign investors were split on a 50-50% with foreigners leading activity on Safaricom Plc, while local investors taking a lead on KCB Group Plc.

The number of shares traded on the exchange was however on the rise, gaining by 13.49% to close the week with 55.28 Million shares exchanging hands as compared to the 48.71 Million posted in the previous week.

The telecommunications sector emerged top in activity, with Safaricom Plc declining by 1.99% to Kes.41.95 per share, down from the Kes.42.80 per share the company posted in the previous week. The giant telco had shares worth Kes.846 million transacted; this represented 50.07% of the weeks traded value.

The Banking Sector came in second with shares valued at Kes.510 million transacted, accounting for 30.16% of the week’s traded value. KCB Group Plc posted a 2.58% price gain to close the week at Kes.45.70 per share, up from Kes.44.55 posted in the previous week. The tier 1 bank had shares valued at Kes.256 million transacted. Equity Group Holdings Plc was second in this sector, adding 2.19% in shareholder wealth to Kes.48.90 per share with 2.8 million shares valued at Kes.139 million transacted.

East African Breweries Plc was one the top blue-chip decliner, shedding 2.71% in weekly value to close the week at Kes.179.50 per share. The company had shares valued at Kes.242 million transacted. The decline in EABL came after the company released their financial results and the directors opted not to issue any dividends for the full year ended 30th June 2021.

In terms of weekly stock performance, Crown Paints Kenya Plc was the week’s top gainer adding about 21.88% in share price appreciation at kes 23.95 per share, up from last week’s close of Kes 19.65 per share while Uchumi supermarkets Plc was the week’s top loser, shedding about 14.81% in shareholder wealth to Kes 0.23 per share from the Kes 0.27 per share posted last week.

CRWN tradingview
Crown Paints Kenya 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 103 contracts valued at Kes. 2.2 million transacted, this was a gain in contracts but a decline in turnover on the derivatives segment as compared to the 87 contracts valued at Kes. 2.9 million posted in the preceding week.

Trading on the secondary bond market at the Nairobi Securities Exchange posted a 25.94% growth in activity with Kes.23.40 billion worth of bonds traded against the Kes 18.58 billion worth of bonds transacted in the previous week.

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