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Kenyan Shilling Sheds Further Against US Dollar

BY Soko Directory Team · April 30, 2015 11:04 pm

Currency

The Kenyan Shilling (KES) shed a further 0.12% against the US Dollar (USD) to 94.68 as the Central Bank of Kenya extended another round of mop ups in Repurchase Agreements and Term Auction Deposits amounting to KES 8 Bn to stem the shedding from breaching the 95 threshold as further dollar demand exerts pressure on the shilling.

Furthermore, the shilling registered shedding against the Sterling Pound (GBP) and the Euro (EUR) amounting to 0.30% and 1.46% respectively, as selling across equities and bonds in the euro zone was accompanied by the rising EUR, testing the European Central Bank’s Quantitative Easing program.

On the local front, the shilling extended further weakening against the South African Rand (ZAR) by 0.26% to register at 8.01 as the Rand gained against a softer dollar following the US Federal Open Market Committee (FOMC) statement.

Favorable performance at the bourse with both indices swinging up; the NSE-20 share index extended 0.60% to 5091.43 points as the NASI gained 0.49% to 173.20 points.

Market capitalization went up 0.50% to KES 2.42Tn as equity turnover depreciated by 26.75% to KES 629.13Mn resulting from the subsiding of volumes of shares traded.

Kenya Commercial Bank Ltd (NSE: KCB) & East African Breweries Ltd. (NSE: EABL) were the most active counters accounting for 48.42% of the day’s traded value.

Rea Vipingo Plantations Ltd (NSE: REA) held their extraordinary shareholder meeting on 28th April 2015, that saw Centum Investments Ltd (NSE: ICDC) get approval from shareholders to purchase Vipingo Estate Ltd. The estate is to the tune of 900 acres of land while the firm will also acquire an additional 9,646 acres of land in Vipingo. The purchase gives the firm headroom for expansion to real estate and property; however concrete plans are yet to be formulated. In the mean time, the firm is looking to lease the estate back to REA to be utilized for agricultural activities.

The counter retreated marginally by 0.78% closing at KES 63.50. I& M holdings Ltd ( NSE: I&M) books closed for its final dividend of KES 2.90 that saw the share garner 1.06% to close at KES 127.00. Foreign investor participation edged upwards during Thursday’s trading session with foreigner’s accounting for 52.57% of total turnover against 47.43% local participation. Investors remained dominant on the demand side, resulting in net inflows worth KES 84.93Mn compared to net outflows worth KES 115.08Mn on Wednesday.

The highlights of the day’s trading activity are listed below:

Foreign investors accounted for 52.57% of the NSE turnover as compared to 41.09% on Wednesday.

Investors engaged in accumulative activities recording net inflows worth KES 84.93Mn relative to net outflows worth KES 115.08Mn on Wednesday.

Kenya Commercial Bank (NSE: KCB) was the day’s highest traded stock, recording a turnover of KES 136.80Mn to account for 21.74% of total market activity and 41.36% of foreign activity.

East African Breweries Limited (NSE: EABL) followed with a turnover of KES 48.86Mn representing 7.77% of total market activity and 14.77% of foreign activity.

Kenya Commercial Bank (NSE: KCB) posted the day’s highest inflows of KES 43.39Mn as, whilst Safaricom Limited (NSE: SCOM) posted the day’s highest outflows worth KES 21.96Mn.

 

Indices

Large-Cap Index

The Large Cap index extended 0.62% as market capitalization shored up 0.47% to KES2.04Bn. Volume of traded shares diminished 53.31% to KES 15.09Mn.

  • British American Investments Ltd (NSE: BRIT) gained 4.76% to KES 22.00, marking the day as the top gainer in the large cap segment.
  • Scan Group Ltd (NSE: SCAN) dived 2.23% to KES 43.75.

Mid-Cap Index

The Mid Cap index rescinded 0.32% with market capitalization appreciating 0.17% to KES 273.43Bn.Volume of trades shed 41.67% to 1.39Mn.

  • Umeme Ltd (NSE: UMME) was up 9.94% to KES 18.80.
  • Liberty Holdings Kenya Ltd (NSE: CFCI) slid a further 5.26% to a Vwap of KES 22.50.

Small-Cap Index

The Small Cap Index went up 1.26% in tandem with as market capitalisation by 1.94% to KES 38.97Bn.

  • Flame Tree Group Holdings Ltd (NSE: FTGH) reversed previous days performance propping up 9.94% to close at a Vwap of KES 9.40. Following the release of their FY2014 results in which the firm recorded a 2.70% increase in PAT.
  • Egaads Ltd (NSE: EGAD) dipped 5.71% to a Vwap of KES 33.00.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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