Secondary Turnover Slightly Dips on Tuesday To 2.1 Billion Shillings

By Soko Directory Team / November 7, 2018

Turnover in the secondary market closed at 2.1 billion shillings on Tuesday, a slight decrease from Monday’s 2.3 billion shillings.

The slight drop, according to market analysts from Genghis Capital mostly traded on the short to medium-term papers during the session.

Market analysts expect to see some activity on the FXD2/2018/015 with some bids at 12.65 percent as the session resumes on Wednesday.

The Central Bank of Kenya was in the market to mop 10 billion shillings in 3-day repos, receiving bids of 26 billion shillings and accepting 10 billion shillings at an average rate of 5.68 percent with the inter-bank closing at 2.89 percent. The shilling remained slightly stable to average at 101.40.

On Tuesday, the top gainer of the day at the Nairobi Securities Exchange was the National Bank with 10.00 percent at the price of 5.50 shillings per share. Uchumi Supermarket was the second top gainer with 9.09 percent at the price of 0.60 shillings per share.

Home Africa, TPS Eastern Africa (Serena) and Barclays Bank Kenya gained 7.14, 4.35 and 4.17 percent at the price of 0.75, 24.00 and 11.25 shillings per share respectively.

Total Kenya and Eveready East Africa were first and second losers of the day respectively with 7.89 and 7.41 percent at the price of 26.25 and 1.25 shillings per share.

Stanlib Fahari Income – REIT, Safaricom Plc and Bamburi Cement lost 6.67, 5.26 and 3.33 percent at the price of 9.80, 22.50 and 145.00 shillings per share respectively

On Wednesday, market analysts say that they expect turnover levels to remain subdued in this day’s session.

Most counters have supply pressure from the foreign desk with no demand to match hence we do not expect much change in price. As the month unfolds, banks are set to release their 3Q18 though analysts say that they don’t expect much movement in the counters due to this.

About Soko Directory Team

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