Equities Market Continues in Negative Territory

Equities

On Wednesday’s trading session, the bourse continued its downward trend as weighed by the market barometers. The Nairobi All Share Index (NASI) lost ground by 0.37% to close at 134.67 points. Both the NSE-20 Share Index and the NSE-25 Share Index slipped by 0.44% in the session, to settle at 3181.48 and 3537.89 (respectively). Equity turnover receded by 48.13% to KES 267.11Mn from KES 514.94Mn. Shareholder wealth, measured by market capitalization, was eroded 0.37% to KES 1.95Tn. Market breadth, albeit showing an improvement to 0.61x from 0.21x in the prior session, cements the bearish sentiment with declining stocks dominating the bourse.

Energy and Petroleum segment eased off 0.62% in the day’s trading session. Power distributing firm Kenya Power & Lighting Co. Ltd (NSE: KPLC) was the top laggard in the sector shedding off 2.23% to close the day at KES 8.75. KenolKobil Ltd (NSE: KENO) shed 1.41% to end the day at KES 13.95. The oil marketer’s share price was lifted to a 4-year high of KES 15.70 on the 25th November; propelled by foreign accumulation but has since ebbed 11.15% to its current price. Total Kenya Ltd (NSE: TOTL) eased 0.84% in the day’s session. The share price of utility firms KenGen Co. Ltd (NSE: KEGN) and Umeme Ltd (NSE: UMME), were glued at their previous close of KES 5.90 and KES 15.50, despite moving 205,300 and 667,700 shares (respectively).

Equity Market Highlights

East African Breweries Ltd (NSE: EABL) was the most actively traded stock today accounting for 49.85% of the total market value traded activity. Safaricom Ltd (NSE: SCOM) was the second most actively traded counter, accounting for 25.82% of the total market turnover.

Eaagads Ltd (NSE: EGAD) occupied the summit of the gainers chart with a 9.30% gain to close the day at KES
19.40. Uchumi Supermarket Ltd (NSE: UCHM) came second with a 5.17% advance to close at KES 3.05.

Flame Tree Group Holdings Ltd (NSE: FTGH) took the nadir slot after recording a 4.00% drop to close the day at KES 4.80 whereas Express Kenya Ltd (NSE: XPRS), erased 2.90% to end the day at KES 3.35.

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