Bourse Closes in Austere State During Monday’s Trading Session

Equities

The bourse closed in an austere state during Monday’s trading session with all the indices pointing south. The NSE-20 Share Index was in the red territory; declining by 0.50% to close at 3249.63 points whilst the NSE-25 Share Index plunged by 0.58% to close at 3626.64 points. The Nairobi All Share Index (NASI) lost a marginal 0.41% to close at 136.84 points. Market capitalization was down; 0.41% to clinch at KES 1,982.43 billion whilst equity turnover bucked the trend, appreciating by 92.82% to KES 0.484 billion. The decliners outweighed the advancers resulting in an A/D ratio of 0.84x.

National Bank Posts 76.9% Decline in After Tax Profits

National Bank of Kenya (NSE: NBK) announced its 3Q16 results for the period ended 30th September 2016 recording a net profit of KES 521.05Mn compared to KES 2.25Mn posted a year earlier. Interest income increased 2.9% y-o-y to KES 10.03Bn while interest expenses declined 14.8% y-o-y to KES 3.45Bn. Net interest income was up 15.5% y-o-y to KES 6.58Bn while non- funded income plunged by 40.3% to close at KES 1.86Bn. Operating expenses increased by 37.4% to close at KES 7.69Bn which was mainly attributable to a 225.7% y-o-y increase in loan loss provisions to KES 1.91Bn from KES 586.43Mn. Loan and advances contracted by 15.5% y-o-y to KES 62.15Bn while customer deposits grew 6.2% y-o-y to KES 96.42Bn. The share price closed at KES 7.80 during Monday’s trading session.

Equity Market Highlights

East African Breweries Ltd (NSE: EABL) was the most actively traded stock today accounting for 29.19% of the total market value traded activity. KCB Group Ltd (NSE: KCB) was the second most actively traded counter, accounting for 27.32% of the total market turnover.

Kakuzi Ltd (NSE: KUKZ) capped the gainers chart; increasing by 10.00% to close the day at KES 308.00. Eaagads Ltd (NSE: EGAD) came second; gaining 4.75% to close at KES 18.75.

KenolKobil Ltd (NSE: KENO) emerged the day’s top loser; edging down by 6.69% to close the day at KES 14.65 whereas Eveready East Africa Ltd (NSE: EVRD), followed suit declining by 5.66% to end the day at KES 2.50.

Related: Kakuzi Emerges Top at the NSE as KenolKobil Tails on Monday