The market closed on a positive note during Wednesday’s trading as portended by the indicators which closed in a mixed territory.
The benchmark indicator, NSE-20 Share index dipped by 0.08 percent to close at 3168.62 points. The Nairobi All Share Index went up by 0.85 percent to close at 130.75 points from 129.65 points. The NSE -25 Share Index followed suit, advancing marginally by 0.01 percent to perch at 3420.70 points.
Equity turnover declined significantly by 76.10 percent, to close at KES 0.303Bn. Market Capitalization expanded by 0.85 percent to close at 1.88 trillion. Market breadth, an unbiased measure of the market performance, indicated that the market conditions had slightly improved; with the A/D ratio closing at 0.73x from 0.48x.
The Kenya Institute for Public Policy Research and Analysis (Kippra) has requested the Energy Regulatory Commission (ERC) to review the formula it uses to set petroleum prices at the pump, stating that some cost components are unfairly burdening consumers.
The government-backed policy body faults the regulator over failure to remove a cost item associated with Kenya’s only refinery despite its closure in September 2013. Kippra’s research might compel the energy regulator to review the formula used to calculate prices and as a result, this would deduct the refinery costs included.
The table below shows how the NSE performed on Wednesday:
Safaricom Ltd (NSE: SCOM) Ltd was the most actively traded stock on Wednesday accounting for 55.03 percent of the total market value traded activity. Equity Group Ltd (NSE: EQTY) also registered high levels of activity, accounting for 17.37 percent of the total market turnover. See the table below:
Transcentury Ltd (NSE: TCL) capped the gainers chart, posting a 9.33 percent increase to close the day at KES 8.20. Home Afrika Ltd (NSE: HAFR) followed suit, registering a 9.09 percent gain to close at KES 1.20.
See the table below:
The foreign investors accounted for 92.88 percent of total turnover against 7.12 percent of local participation. Distributive activities took center-stage, resulting in net outflows worth KES 27.63Mn relative to net inflows worth KES 36.45Mn on Tuesday.
Foreign investors accounted for 92.88% of the total NSE turnover. Foreign investors engaged in net distribution, resulting in net outflows worth KES 27.63Mn. Safaricom Limited (NSE: SCOM) which recorded a turnover of KES 1,046.66Mn representing 52.57 percent of total activity and 56.60 percent of foreign investor activity, followed by Equity Group Holdings Limited (NSE: EQTY) which recorded a turnover of KES 339.37Mn to account for 17.05% of total market activity and 18.35 percent of foreign investor activity.
Safaricom Limited (NSE: SCOM) posted the day’s highest net inflows worth KES 16.32Mn and the day’s highest net outflows, worth KES 33.43Mn, were posted by the British-American Investments Company (Kenya) Limited (NSE: BRIT).