Equities Headed South in Monday’s Session at the NSE

By Juma Fred / November 14, 2017


Equities went down in Monday’s session at the Nairobi Security Exchange with all major indicators closing south on 58.17 percent higher turnover.

Safaricom Limited was the top mover of the day. The telecommunication maintained the position with unchanged share price. However, the top five traded counters on Monday closed the day lower at price except for British American Tobacco Kenya Limited which held the previous price at 800.00 shillings per share.

On Monday, the top five movers of the day accounted for 96.3 percent of the total market turnover with shareholders’ funds declining by 9.22 billion shillings in the session compared to the previous session.

The foreign desk increased its activity on Monday to account for 81.31 percent of total market turnover in Monday’s session compared to 39.56 percent recorded in Friday’s session.

88.91 percent traded on Safaricom as foreign investors persisted their selling stance on the counter recording the day’s highest net outflows. Foreign investors bought into Equity Group Holdings Plc (NSE: EQTY) which recorded the highest net inflows in the session. In overall, the foreign desk exuded net selling activity for the sixth consecutive session.

Bonds turnover, on the other hand, declined by 1.96 percent to 2.17 billion shillings in the session on 31 deals from 28 deals previously.

On Monday, the top five gainers of the day were Stanlib Fahari Income, Mumias Sugar Company, Eveready East Africa, and Trans-Century while the top loser’s domain was dominated by Sameer Africa, National Bank of Kenya, Uchumi Supermarket and Unga Group. The Top movers’ shelve was dominated by Safaricom Limited, Kenya Commercial Bank, Equity Group, Co-operative Bank of Kenya and the Kenya Airways.

Despite the current political uncertainties in the country, the market has remained resilient after being on the receiving end of the last four months with billions already have gone down the drain.

About Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. You can reach him on: (020) 528 0222 or Email: [email protected]

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