The bourse closed on a bleak state during Tuesdays’ trading session with all the indices pointing south. The NSE-20 Share Index declined marginally by 0.01% to close at 4020.55 points whilst the NSE-25 Share Index shed off 0.49% to close at 4209.76 points. The Nairobi All Share Index (NASI) followed suit, losing ground by 1.13% to close at 145.96 points. Market capitalization contracted by 1.13% to close at KES 2,053.21 Billion. Equity turnover however bucked the trend, appreciating significantly by 148.52% to close at KES 0.932 Billion. The A/D ratio slightly declined to clinch at 1.0x from 1.47x during Monday’s trading session.
In a move aimed at boosting regional trade, Safaricom (NSE: SCOM) has partnered with MTN Rwanda to permit M-pesa users to send and receive money flawlessly and affordably. This partnership will greatly reduce the cost of doing business across the countries as well as deepen financial inclusion through integration with existing and emerging financial service platforms. Rwanda becomes the 11th country with M-Pesa footprint after Kenya, South Africa, Lesotho, DR Congo, Mozambique, Tanzania, India, Romania, Fiji and Egypt. We expect to see continued growth on Mpesa which will in turn boost the topline performance of the telco.
Equity Market Highlights
East Africa Breweries (NSE: EABL) was the most actively traded stock today accounting for 41.98% of the total market value traded activity compelled by increased foreign outflows. Safaricom Ltd (NSE: SCOM) was the second most active stock, accounting for 26.78% of the days traded value driven by increased foreign inflows.
East Africa Portland Ltd (NSE: PORT) capped the gainers chart, reaping 4.58% to close the day at KES 40.00. Kenya Airways Ltd (NSE: KQ) edged up by 4.35%, to close at KES 4.80.
Umeme Ltd (NSE: UMEME) was the top loser of the day, waning by 9.90% to close at KES 61.50. Trans-century (NSE: TCL) trailed behind, dropping by 9.73% to close at KES 10.20.