KES Extends Losses Against USD

By / April 30, 2015 | 7:31 am



kenyan shilling against us dollar

Heightened activity in the market today with the NSE-20 share index advancing by 0.12% to 5061.11 points while the NASI expanded by 0.38% to 172.35 points.

Market capitalization propped up 0.38% to KES 2.41Tn as equity turnover appreciated 79.81% to KES 858.94Mn. Safaricom Ltd (NSE: SCOM) & CFC Stanbic Kenya Holdings Ltd. (NSE: CFC) were the most active counters accounting for 62.55% of the day’s traded value.

Scan Group Ltd (NSE: SCAN) released their FY2014 earnings registering sturdy growth attributable to increased operational efficiency and impressive performance in its regional operations in Ghana, Nigeria and South Africa. Organic revenues in Kenya grew 5% with regional operations surpassing the growth registered in Kenya with the firms PBT escalating to KES 912Mn from KES 339Mn.

Earnings per share also shored up to KES 1.50 compared to KES 0.47 in the previous year revealing higher yields to investors. The counter rescinded by 1.01% to close at KES 44.75. On the other hand, Standard Chartered Bank Ltd (NSE: SCB) books for a final dividend of KES 12.50 closed today, the share price remained stable gaining a marginal 0.58% to close at a Vwap of KES 348.00.

Foreign investor participation declined during Wednesday’s trading session with foreigner’s accounting for 41.09% of total turnover against 58.91% local participation. Investors remained dominant on the supply side, resulting in net outflows worth KES 115.08Mn compared to net outflows worth KES 10.55Mn on Friday.

The highlights of the day’s trading activity are listed below:
Foreign investors accounted for 41.09% of the NSE turnover as compared to 58.71% on Tuesday.

Investors engaged in distributive activities recording net outflows worth KES 115.08Mn relative to net
outflows worth KES 10.55Mn on Tuesday.

Safaricom Limited (NSE: SCOM) was the day’s highest traded stock, recording a turnover of KES 262.26Mn to account for 30.53% of total market activity and 74.31% of foreign activity. Kenya Commercial Bank (NSE: KCB) followed with a turnover of KES 36.38Mn representing 4.24% of total market activity and 10.31% of foreign activity.

Equity Group Holdings Limited (NSE: EQTY) posted the day’s highest inflows of KES 5.71 Mn as the group announced its Q1 2015 results, whilst Safaricom Limited (NSE: SCOM) posted the day’s highest outflows worth KES 118.96Mn.

Currency:

Performance: The Kenyan Shilling (KES) continued to extend further shedding by 0.29% to 91.57 as the Central Bank of Kenya extended further mop ups amounting to KES 12Bn in Repurchase Agreements and Term Auction Deposits as end month demand pressures continue to add pressure to the pair. Further weakening was registered as the local shilling shed 1.11% against the Sterling Pound (GBP) as positive sentiments exude that the Bank of England shall follow the US Fed closely with a rate hike, spurring the GBP. Meanwhile, the shilling continued to weaken against the Euro (EUR) by 1.57% to 104.30 as the Euro area expanded growth rates of bank loans to the private sector for the first time in 3 years.

Large-Cap Index

The Large Cap index expanded marginally by 0.02% in tandem with market capitalization that appreciated
by 0.36% to KES2.03Bn. Volume of traded shares was up 282.48% to KES 32.32Mn.

  • Centum Investments Co. Ltd (NSE: ICDC) advanced a further 3.23% to KES 64.00, marking the day as the
    top gainer in the large cap segment.
  • Mumias Sugar Co. Ltd (NSE: MSC) retreated by 4.65% to KES 2.05.

Mid-Cap Index

The Mid Cap index extended 0.99% with market capitalization rising 0.51% to KES 272.95Bn.Volume of
trades dived 33.23% to 2.39Mn.

  • Jubilee Holdings Ltd (NSE: JUB) was up 5.10% to KES 598.00.
  • Liberty Kenya Ltd (NSE: CFCI) upturned previous days performance declining by 3.06% to a Vwap of KES 23.75.

Small-Cap Index

The Small Cap Index slipped 1.44% with market capitalisation contracting by 1.89% to KES 38.23Bn.

  • Car & General Ltd (NSE: C&G) went up 7.14% to close at a Vwap of KES 48.75
  • Flame Tree Holdings Group Ltd (NSE: FTGH) shed 9.04% to a Vwap of KES 8.55.







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