The local market closed on a positive note, as the NSE 20-share index revived from its downturn advancing 0.36% to 4222.55 points while the NSE All Share Index surged up 0.53% to close at 148.30 points. Market capitalization was up 0.53% to KES 2.079.95 billion as equity turnover rose 12.05% to KES 0.306 billion, propagated by an increase in the volumes traded. Market breadth, an unbiased measure of the market performance, indicated that the market conditions had improved marginally; with the number of stocks that advanced, 17, outweighing the number of stocks that declined, 16.
Following a slump in mainstream and emerging beers sales by 2% for the full year ended June 2015, East African Breweries Ltd (NSE: EABL) is set to introduce 300ml and 330ml bottles for its Tusker and Pilsner beer brands. Currently, the brewer is selling the new beer at KES 90 per bottle. Nonetheless, the ongoing market research will set the ultimate recommended price. This move is set to cover low income earners.
We are positive that the new packaging will turnaround the dip experienced in sales from the mainstream and emerging beers in the next half of the year. EABL appointed DR. GeiszlGyorgy as Group Finance Director with effect from 1st October 2015 to replace Ms Tracey Barnes who tendered her resignation effective 30th September 2015.
Equity Group Holdings Ltd (NSE: EQTY) was the most traded stock accounting for 38.81% of the total value traded. Kenya Commercial Bank Ltd (NSE: KCB) closed second accounting for 24.01% of the days traded value. Williamson Tea Kenya Ltd (NSE: WTK) was the top gainer of the day, gaining 9.82% to close the day at KES 369.
Flame Tree Group Ltd (NSE: FTGH) advanced by 6.29% to close the day as the second best gainer at KES 7.60. Standard Group Ltd (NSE: SGL) led the losers pack, shedding 8.09% to close at KES 31.25. Atlas Development & Support Services (NSE: ADSS) followed a close second as it retreated by 3.61% to KES 4.00, closing as the second biggest loser for the day.