Market activity started the week on a slightly higher note when compared to its Friday movements. The NSE 20 Share index dropped 28.08 points to close the day at 3460.60 points, its April 2012 levels, while the NASI increased marginally to 142.91 points from 142.39 points before.
The NSE 25 Share index lost marginally to end the day at 3935.83 points. Market capitalization improved a tad to KES 2056.47 billion from KES 2048.88 billion seen last week on Friday, whilst equity turnover doubled to KES 0.75 billion from KES 0.37 billion previously owing to a surge in the number of shares changing hands.
Loss making Nairobi Securities Exchange listed firm Atlas Africa Industries has made a KES 30million bet on a Nigeria-based gaming company, BonanzaWin. The equity buyout will see Atlas Africa hold a 10 per cent stake of the Nigerian firm.
BonanzaWin has an online gaming platform, which powers a wide range of games including sports betting, live casino and slot games focused on the Nigerian market. Atlas in a statement to the bourse said the investment is in line with the company’s strategy to identify prospective growth opportunities across Africa, particularly within the growing consumer market.
Read: The Betting Craze in Kenya: Sportpesa beyond Kenya
Currencies
The Kenya shilling was stable against the US dollar on Monday as it traded at a mean of KES 101.40 to the dollar against an average of Kes 101.39 on Friday; the steadiness having been due to dollar inflows from pharmaceutical and railway construction companies.
The local currency’s gains against the Sterling and the Euro retreated as it lost a marginal 0.17% and 0.71% against the Sterling and the Euro respectively as signs of the recovery of the two major currencies showed.