Stock in Focus: Markets Close on a Bleak Note on Wednesday

Market commenced on an austere note Wednesday’s trading as portrayed by the market indicators which all closed in the red as compared to a day before.

The NSE-20-Share Index slid by 0.38 percent to close the day at 3194.13 points. The NSE All Share Index was on a similar trend, declining by 0.26 percent to settle at 132.27 points whilst the NSE 25- Share Index plummeted by 0.39 percent to close at 3498.99 points.

Market capitalization declined by 0.26 percent to 1.916 trillion shillings whilst the equity turnover posted a 1.65 percent loss to close at 0.357 billion shillings. The advancers (14) failed to outweigh the decliners (17) resulting in an A/D ratio of 0.82x. The counter went up by 2.50% to close at KES 8.20 during Wednesday trading session.

Actively traded in shares

KCB Group Ltd (NSE: KCB) was the most actively traded stock today accounting for 30.01 percent of the total market value traded activity. Kenol Kobil Ltd (NSE: KENO) was the second most actively traded counter, accounting for 25.82 percent of the total market turnover as shown in the table below:

Gaining Stocks

Flame Tree Group Ltd (NSE: FTGH) emerged as the top gaining counters, advancing 8.33 percent to close the day at 5.20 shillings while Eveready East Africa Ltd (NSE: EVRD) came second gaining 4.26 percent to close the day at 2.45 shillings as shown in the table below:

Losing Stocks

In other news, Kenya Power Ltd (NSE: KPLC) has appointed Ken Tarus, as the acting Chief Executive officer (CEO) with Ben Chumo exiting the utility firm. This appointment came after an activist, Okiya Omtatah moved to court seeking to block the CEO from serving a second term. Dr Chumo began his three-year term at the helm of Kenya Power on January 7, 2014.