Umeme Tops at the NSE as East African Portland Cement Lags on Wednesday

Umeme was the top gainer at the NSE on Wednesday having gained 6.67 percent at the price of 144.40 shillings per share. Mumias Sugar Company came in second with 4.76 percent at the price of 1.10 shillings per share. ARM Cement, East African Breweries, and Kenya Airways gained 3.59, 2.41 and 2.17 percent respectively at the price of 11.55, 255.00 and 4.70 shillings per share respectively.

The East African Portland Cement led the losing pack with 7.69 percent at the price of 27.00 shillings per share as shown in the image below:

On the top movers shelve, ARM Cement carried the day by posting a total volume of 12.41 million with a market capital of 11.09 billion. The table below shows top five movers at the NSE on Wednesday:

The Market turnover at the bourse declined by 44.0 percent to USD 4.94 million or 510.12 million shillings from Tuesday’s trading. NSE 20 and NASI dropped by 0.09 percent and 0.61 percent to close at 3,729.84 and 165.01 respectively. Foreign investors assumed a net selling position by accounting for 41.7 percent of total market sales and 37.4 percent of total market purchases.

The performance of the Kenyan shilling

The Kenyan shillings has continued to weaken against the US Dollar, Sterling Pound, and the Euro. Against the US Dollar, the Kenyan Shilling weakened by 0.83 percent year-to-date with the same trend was replicated against the Sterling Pound where the shilling weakened by 10.78 percent. Against the Euro, the Kenyan Shilling weakened by 13.82 percent year-to-date.

Across the pond, on the EAC markets, in Uganda, the USE ALSI declined 0.42 percent to close at 1,723.68 while USE LCI gained 0.02 percent to close at 377.17 while in Rwanda, the RSE RSI and RASI dropped 0.13 percent and 0.02 percent to close at 122.90 and 131.71 respectively.