NSE Closes the Week With a Total Turnover of 3.8 billion Shillings

Market activity improved this week due to heightened trading on Friday which pushed the total turnover to KES 3.8 billion compared to KES 2.8 billion previously. The number of shares changing hands increased to 137 million shares from 64 million shares seen last week. The NSE 20 Share Index dropped 6.49 points to close the week at 3482.18. The All Share Index (NASI) edged 1.58 points higher during the week to stand at 143.97. The NSE 25 Share Index climbed 7.32 points to end the week at 3943.96.

Safaricom touched an all-time high of KES 21.00 but eased to an average of KES 20.00 at market close on Tuesday, after 19 million shares changed hands on that particular day. The Telco share price closed the week at KES.19.80 on a volume of 73 million shares; this accounted for 53.35% of the weeks traded volume.

Fixed Income:

The bond market saw a decrease in activity with bonds worth KES.6.4billion transacted compared to KES.8.3billion traded the previous week. The short-term rates for this week kept their uptrend witnessed in the last three auctions as signs of increased domestic borrowing from the domestic market by the government to support its budgetary requirements showed itself further.

Currencies:

The Kenya shilling was steady against the US dollar this week as it remained flat at a mean of KES 101.39; the stability having been as a result of dollar demand from importers in sectors like manufacturing and energy being matched by inflows from exporters.