A Look at the Worst Performing Stocks For 2018 at the NSE

After a long electioneering period in 2017, Kenya’s economy almost came to a standstill as investors adopted the wait-and-see attitude before embarking on any investments.

As 2018 kicked in, investors were hopeful that the economy will roar back with a rejuvenated energy. Most brands are doing great but things seem not so good to some 13 listed companies at the NSE.

Soko Directory has put together 13 stocks at the Nairobi Securities Exchange that are the worst performing even as 2018 snails towards completion.

Uchumi Supermarket tops the list of the worst performing stocks this year. The stock’s price has fallen by a whopping 80.40 percent followed by ARM Cement whose price has fallen by 79 percent. ARM Cement has since been placed under the administration of PwC.

The share price of Eveready East Africa has dipped by 58 percent followed by that of Home Afrika which has dropped by 53 percent.

Mumias Sugar Company and Kenya Power’s share prices have fallen by 50 and 49 percent respectively. Mumias Sugar has been ailing and stopped producing sugar months ago. It is seeking a 2-billion shilling bailout from the government.

HF Group is the seventh worst performing stock with the price has fallen by 44.20 percent followed by Trans-Century whose price has dropped by 42 percent.

Kenya Airways share price has fallen by 41.70 percent. Economic analysts, however, say that the airline is on the right track, having come from a massive loss of 27 billion shillings. Good things for the airline are coming ahead of the launch of direct flights between JKIA and New York.

Nation Media Group and National Bank Kenya have lost 40.50 and 38 percent of their share price respectively while Centum and NIC Bank have lost 34.90 and 27.40 percent respectively.