Market Continues Plummeting as 27 Stocks End the Day Negative

On Tuesday’s trading session, the bourse sustained the downward trend as portrayed by the market indicators and the value of transaction. The Nairobi All Share Index closed in the red yet again, contracting by 0.34% to close at 136.66 points.

The NSE 20 Share Index and the NSE 25 Share Index sector also mirrored the bearish mood of the market, as the former declined by 0.19% to close at 3745.38 points while the latter plunged by 0.47% to close at 3907.03 points. Market capitalization contracted by 0.34% to close at KES 1.92 trillion from KES 1.93 trillion whereas the equity turnover dipped by 63.42% to close at KES 0.548 billion. The market breadth pegged at 0.44x against yesterday’s close of 1.39x, as the decliners (27) outweighed the advancers (12).

Equity Bank Ltd (NSE: EQTY) has announced its partnership with Entersekt, a South Africa based software security solutions provider. Entersekt’s authentication product dubbed Interakt, provides users with a secured off-net mode that allows them to connect to the bank via any mobile phone network. This move will speed up the uptake of mobile based payment services across Africa as all users are now assured that there transactions will be secure. This will enable Equity Bank in realising a higher market share amongst other banks who are in the forefront in innovating affordable and secure mobile transactions.

During today’s trading session, Equity was the day’s highest traded stock, recording a turnover of KES 179.92Mn to account for 32.85% of total market activity and 45.46% of foreign investor activity.

Equity Market Highlights

Equity Group Holdings Ltd (NSE: EQTY) was the most actively traded stock today accounting for 33.59% of the total market value traded activity. Safaricom Ltd (NSE: SCOM) closed in second, accounting for 31.98% of total market turnover.

E.A. Cables Ltd (NSE: CABL) led 12 advancers in the day, recording an 8.29% to close at KES 9.80. Sasini Ltd (NSE: SASN) emerged as the day’s second biggest gainer, with a 7.06% rise to KES 22.75.

Longhorn Publishers Ltd (NSE: LKL) was the top laggard of the day, plummeting by 6.73% to close at KES 4.85. Trans-century Ltd (NSE: TCL) followed suit, declining by 5.70% to close at KES 7.45.