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KenolKobil Bites More Into Market Share

BY Soko Directory Team · June 25, 2016 08:06 am

Equities

The bourse closed on a bleak state occasioned by the slump on all the market indicators. The NSE-20 share index cut back a further 0.43% to close at 3750.98 points whilst the NSE-25 share index, retreated by 0.82% to close at 4099.81 points. The NSE All Share index dropped by 1.45% to close at 145.16 points. Investor’s wealth similarly shrank by 0.83% to settle at KES 2,059.64 billion whilst equity turnover closed on the red, sliding significantly by 70.90% to close at KES 0.373 billion. Market breadth further exemplified the current market conditions, as the number that declined, 22, outweighed the number that advanced, 9.

KenolKobil Limited (NSE: KENO) registered the biggest jump in market share in Kenya’s oil marketing industry for the first quarter of 2016, according to a report by Petroleum Institute of East Africa (PIEA). The listed oil seller gained 3% of the market as it closed in on its main rivals Total Kenya and Shell which trades as Vivo Energy. This underpins KenolKobil’s strategy of consolidate its operations in the Kenyan market following the sale of its business units in Tanzania and D.R Congo where the proceeds were used to pay some of its debt. Its market share currently stands at 15.7%, behind Total’s 18.5% and Shell’s 17.6%. KenolKobil, now the biggest supplier of jet fuel has seen strong performance from its segments that has seen it move more volumes from increase contracts for service stations and power plants.

Equity Market Highlights

Safaricom Ltd (NSE: SCOM) was the most actively traded stock today accounting for 43.66% of the total market value traded activity. Equity Group Ltd (NSE: EQTY) also registered high levels of activity, accounting for 16.00% of the total market turnover.

Olympia Capital Holdings Ltd (NSE: OCH) capped the gainers list, appreciating by 5.00% to close the day at KES 3.15. Car & General Ltd (NSE: C&G)) went up by 3.60% to close the day as the second best performer at KES 36.00.

Unga Group Ltd (NSE: UNGA) emerged as the top loser of the day, plunging by 4.41% to close at KES 32.50. Mumias Sugar Ltd (NSE: MSC) similarly lost ground by 3.70% to close at KES 1.30.

 

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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