BAT Snapped Its Mini-rally, Retreating 0.5% To Ksh 418.00

By Soko Directory Team / Published September 4, 2023 | 7:04 pm

KEY POINTS

Safaricom remained unchanged at KES 15.10. Centum was the leading laggard in the top movers’ list, losing 1.8% to KES 8.80 on increased foreign selling. Conversely, Stanbic regained 0.5% to KES 111.50 on increased local trading.

Kenyan Stock Market Exhibited a Downward Trend in October top Safaricom Plc Top

BAT snapped its mini-rally, retreating 0.5% to KES 418.00 on profit taken largely by foreign players. Equity Group was the subsequent top mover, extending its bear run by 0.9% to KES 38.10 on bearish foreign sentiments.

Liberty Holdings was the top gainer of the day, surging 9.6% to KES 4.00 while Longhorn was the leading loser, plummeting 9.9% to a one-month low of KES 2.36, both on thin volumes.

NSE

The benchmark indices began the week on a mixed note, with the NSE 20 emerging as the only gainer, rebounding 0.4% on the price uptick of some large caps.

Meanwhile, the NSE 25 sustained its value erosion for the third consecutive trading day, down 0.1% while the NASI remained largely unchanged.

The NSE has announced the inclusion of two new indices, the NSE 10 Share Index (N10) and the NSE Bond Index (NSE-BI). The N10 will be a market cap-determined index and float-adjusted, effective today, 4th September 2023. The index will include 10 companies namely, Safaricom, Equity Group, KCB, Co-op Bank, Absa, EABL, NCBA, KenGen, Kenya Re, and Centum, to be reviewed semi-annually. In this new index, the top stock will be capped at 20% of the overall portfolio weighting.

Read More:

The NSE-BI index will be a weekly index, based on the benchmark government bonds listed on the secondary market. The index will form part of a fixed-rate futures contract to be issued on the derivatives market, effectively enabling investors to track the performance of their bond portfolios. The index is effective from 1 October 2023.

In addition, a review of the NSE 20 index has been undertaken with the CIC, BK Group, and I&M replacing WPP, NSE, and DTB, effective today, 4th September.

Data from Standard Investments Bank (SIB)

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

View other posts by Soko Directory Team