Kenyan Equities gain marginally to end the week in the green

The market indicators of the Nairobi Securities exchange (NSE)  closed the week on an upward trend with NSE 20, NSE 25 and NASI gaining marginally by 0.4 percent, 0.3 percent and 0.1 percent, respectively, taking their YTD performance to 25.3 percent, 25.0 percent and 23.9 percent, respectively.

The NSE 20 share index declined from 4,069.34 points the previous week to settle at 4,045.89 points, while NSE 25 share index also declined from 4,482.89 points on August 11,
to 4,457.05 points on Friday.

“However, despite the indices closing the week in the green, we observed a weakening performance towards the end of the week,” according to Genghis Capital Analysts.

The week’s performance was driven by gains in select large cap stocks such as KCB Group and Equity Group, which gained 1.1 percent and 0.6 percent, respectively.

“Since the February 2015 peak, the market has lost 6.9 percent d 27.4 percent for NASI and NSE 20, respectively,” notes Cytonn Investments.

Market capitalisation declined a 0.43 per cent from Sh2,443.91 trillion registered on August 11, compared to Sh2,433.42 registered on August 18.

Market turnover declined by 50.33 per cent to record Sh 563.29 billion compared to Sh1.139 trillion, it recorded on August 11. The share traded declined by 47.36 per cent to 24.68 million on Friday from 46.88 million it registered previously.  

“We expect the market to remain supported by improving investor sentiment following the conclusion of Kenya’s general election, and as investors take advantage of the attractive stock valuations,” according to Cytonn.