Bourse Reopens the Year on a Mixed Note
The bourse reopened after the New Year holiday on a mixed note, as portended by the market indicators and the value of transactions on Tuesday.
The NSE 20 Share Index gained 0.63 percent to close the day at 3206.24 points from 3186.21 points recorded last week. The NSE All Share Index on the other hand was on a divergent trail, losing ground by 0.55 percent to close at 132.61 points whilst the NSE 25- Share Index lost 0.49 percent to close the day at 3512.78 points.
Market capitalization and equity turnover posted diverse trends, with the former edging down by 0.55 percent to close at 1.921Trillion shillings, while the latter increasing by a marginal 1.11 percent to close at 362.93 million shillings.
The number of stocks that declined were 18 and they outweighed the number of stocks that advanced, which were 15, indicating improved market conditions compared to the previous year’s close.
Profit warning by Deacons
Clothing and home products retailer, Deacons Kenya (NSE: DCON) has issued a profit warning alert anticipating its earnings for the period ended 31st December 2016, to be at least 25 percent below the profit reported in a similar period in 2015.
The company attributed the profit warning alert to a lower Christmas trading session in 2016. Additionally, the drop-in profits were prompted by the delayed openings of the Adidas, Bossini and F&F stores at the Hub Karen and the delay of the launch of the Two Rivers Mall, where the company was fully invested and ready to trade. The counter closed at KES 6.10 during Tuesday’s trading session.
The tables below show Equity Market highlights:
The table below shows performance of indexes