The NSE in Focus: Activities at the Bourse on Tuesday

Equities market clawed back gains to cover ground from the losses off the previous session at the Nairobi Security Exchange on Tuesday.

Both the NSE 20 share and NASI gained 0.18 percent in the Tuesday’s session to end the day at 3249.67 and 136.63 points respectively. The NSE 25 Share Index jumped 0.42 percent to close at 3,617.14 points. Shareholders’ wealth edged up 0.17 percent higher to perch at 1.979.40 trillion shillings.

Equity turnover retreated 40.09 percent to close at 140.81 million shillings. Bearish investor sentiment overhung the equities market with declining stocks -23- outweighing the advancing stocks -19- resulting in A/D ratio of 0.83x.

Eveready East Africa Limited (NSE: EVRD) released a cautionary statement announcing the expiry of the five-year distribution agreement with Energizer Middle East & Africa Limited (EMAL). EMAL is a subsidiary of Energizer Inc. (USA) which currently holds 22.06 million shares, representing a 10.50 percent ownership stake.

The contract entailed the battery-maker distributing Energizer branded products such as flashlights, batteries, Schick razors, among others. The two firms have commenced negotiations to conclude a definite contract beneficially to both; with Eveready stating it has put up measures ensuring the firm continues supplying products in the interim. The battery firm share performance was oblivious to the cautionary statement; recorded a 7.84 percent leap in the Tuesday’s session.

NIC Bank Ltd (NSE: NIC) was the most actively traded stock on Tuesday accounting for 22.72 percent of the total market value traded activity.

Safaricom Ltd (NSE: SCOM) was the second most actively traded counter, accounting for 12.76 percent of the total market turnover.

Home Afrika Ltd (NSE: HAFR) took pole position of the gainers chart with a 9.09 percent gain to close the day at 1.20 shillings.

Eveready East Africa Ltd (NSE: EVRD) came second with a 7.84 percent increase on its previous day’s close. Standard Group Ltd (NSE: SGL) emerged the day’s top laggard posting a 10.00 percent drop to close the day at 20.25 shillings whereas Trans-Century Ltd (NSE: TCL), closely followed shedding off 9.94 percent to end the day at 7.70 shillings.

In other news at the NSE, foreign investors accounted for 12.92 percent of total turnover against 87.08 percent of local participation.

Distributive activities took center-stage on Tuesday, resulting in net inflows worth 2.12 million shillings relative to net outflows worth 15.15 million shillings on Monday.

Safaricom Limited (NSE: SCOM) which recorded a turnover of 6.77 million shillings representing 4.81 percent of total activity and 37.22 percent of foreign investor activity, followed by Total Kenya Limited (NSE: TOTL) was the day’s highest traded stock, recording a turnover of 3.28 million shillings to account for 2.33 percent of total market activity and 18.06 percent of foreign investor activity.

Total Kenya Limited (NSE: TOTL) posted the day’s highest net inflows worth 3.28 million shillings and the day’s highest net outflows, worth 6.17 million shillings, were posted by Safaricom Limited (NSE: SCOM).