The bourse closed in the red, as depicted by all the market indicators which pointed south. The Nairobi All Share Index closed Monday’s trading session 0.75% lower to 139.64 points. The NSE 20 Share index dipped 0.53% to close at 3814.06 points while the NSE 25 Share Index lost 0.79% to perch at 4046.10 points. Market capitalization contracted to KES 1.97 trillion from KES 1.98 trillion registered on Friday. Equity turnover bucked the trend, advancing marginally by 3.26% to close at KES 0.288 billion. Market breadth, a measure of market performance, indicated that the performance had weakened, with the number of decliners -28 outweighing the number of advancers -10.
Vodaphone, a UK telecommunication company, currently holding a 40% stake in Safaricom (NSE: SCOM), has partnered with a Singapore based mobile remittance firm; TransferTo, to provide real time international Mpesa transfers. TransferTo has presence in over 100 countries in Europe, Latin America, Africa, and North America among others and has partnered with over 1,000 financial institutions and more than 400 mobile operators (including MTN, Tigo and Airtel) giving its access to approximately 4.5 billion phone users. Following the extensive global reach, the firm is poised to grow its market share which will eventually trickle down to Safaricom Ltd. We expect to see robust growth on M-pesa revenues which currently contributes 20% of the total revenues.
East African Breweries Ltd (NSE: EABL) was the most actively traded stock today accounting for 57.33% of the total market value traded activity. Barclays Bank of Kenya Ltd (NSE: BBK) clocked in the second position, accounting for 14.20% of the total market turnover.
Liberty Kenya Ltd (NSE: CFCI) emerged as the top gainer of the day advancing by 8.52% to close at KES 17.20.
Longhorn Publishers Ltd (NSE: MSC) followed closely, soaring by 8.49%, to close the day at KES 5.75. Atlas Development & Support Services Ltd (NSE: ADSS) was the top loser, slumping by 6.45% to close at KES 1.45. Standard Group Ltd (NSE: SGL) came in second, declining by 6.45% to close at KES 29.00.
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