The bourse closed on a positive note having gained on all the market indicators. The NSE All share index resurged by 0.30% to close at 144.72 points while the NSE-20 index followed suit, recording a 0.22% rise to close at 3995.09 points. Market capitalization edged up by 0.30% to close at KES 2.036 trillion whilst equity turnover extended by 67.92% to close at KES 0.727 billion. Market breadth, a measure of the market performance indicated an improvement of the market conditions from yesterday, as the A/D ratio stood at 0.84x against 0.57x.
Cement manufacturer, E.A. Portland Cement Ltd (NSE: PORT) announced their full year results for the period ended 30th June 2015 with a decline of 7% in turnover to KES 8.42Bn. This was largely attributable to a prolonged plant shut down undertaken between Oct-Dec 2014, coupled with sustained erosion of cement prices which reduced by about 5% during the year. The financing costs went up by 16% to KES 369.33Mn, due to utilization of debt capital to finance the development projects for the new packaging line and feeding lines for the cement mills. Overall, the business posted improved profits after tax, driven by realised gains on disposal of land acquired for the standard gauge railway (SGR) project.
Equity Market Highlights
Safaricom Ltd (NSE: SCOM) was the most actively traded stock accounting for 20.19% of the total market activity. Kenya Commercial Bank Ltd (NSE: KCB) closed in second, accounting for 14.75% of the days traded value.
Eaagads Ltd (NSE: EGAD) was the top gainer with a price surge of 8.11% to close the day at KES 20.00. E.A. Portland Cement Ltd (NSE: PORT) climbed up 5.85%, to close the day as the second best gainer at KES 49.75 spiked by the improved FY15 results.
Sameer Africa Ltd (NSE: FIRE) was the top slacker of the day, plummeting by 8.97% to close the day at KES 3.55. Unga Group Ltd (NSE: UNGA) fell behind, sliding by 8.11% to KES 34.00.