Kenya Equity Watch | 1 July 2015: Kenya equity market reverts to red, market cap KES 17 billion down

Nairobi, Kenya (Capital Markets in Africa):- Kenya equity markets reverted yesterday’s gains to begin July on a bearish note. The market capitalization closed at to close at KES 2,285.09 billion, by dropping KES 16.8 billion or 0.73 percent relative to market capitalization of KES 2,301.88 billion recorded at previous trading session.

The Nairobi Securities Exchange (NSE20) index dropped by 47.65 points or 0.97 percent to close at 4,858.42 points and Nairobi All Share Index tumbled by 1.20 points or 0.73 percent to settle at 163.21. However, the FTSE NSE 25 index and FTSE NSE 15 index rose by 2.07 points or 0.96 percent and 1.67 points or 0.78 percent to close at 218.14 points and 216.95 points respectively.

With regard to today’s market trading activities, the volume of shares traded declined 83.25 percent to close at 30.28 million and total turnover dipped by 86.20 percent to close at KES 1,232.27 million. East African Breweries was the largest mover of the day with a turnover of KES 7,443.86 million representing 72.38 percent of total market turnover.  Also, Equity Group Kenya was the second largest mover of the day with a turnover of KES 253.078 million accounted for 20.5 percent of total market turnover. Likewise, KCB Group was the third largest turnover of KES 208.807 million and fourth largest was CENTUM Investment Group Kenya with turnover recorded at KES 131.118 million. In term of type of investor, foreign buys stood at 77.73 percent of total turnover, while foreign sales stood at 82.84 percent of total turnover.

Looking at the market price movers and shakers, KAPCHORUA TEA Kenya was the highest market gainers edging up by 11.54 percent to close the day at KES 145.00. This was followed by Liberty Kenya Holdings Limited, by gaining 4.12 percent to close the day at KES 25.25 and National Bank Kenya surged by 2.59 percent to settle at KES 19.80. Equally, TPS SERENA and ATHI RIVER MINING surged by 2.14 percent to end at KES 35.75 on 1,100 shares and 1.33 percent with closing price of KES 76.00 respectively.

Conversely, Williamson Tea Kenya appeared as the top laggard, decreasing by 11.59 percent to close the day at KES 366.00. Similarly, CFC STANBIC Kenya fell by 6.14 percent to settle at KES 107.00 on 30,500 traded shares. Likewise, Crown Berger Paint Kenya and KENYA POWER plunged by 4.32 percent and 4.09 percent to end at KES 77.50 and KES 17.60 respectively.

On currency market front, Kenyan Shilling dropped against major trading currencies today. It fell against US dollar by 0.59 percent to trade at KES 98.22 and against South African Rand by 0.54 percent to close at KES 8.16. Also, the Kenyan Shilling depreciated against EURO and British Pound by 0.11 percent and 0.43 percent respectively. In the same note, Kenyan Shilling depreciated against Tanzanian Shilling by 0.29 percent to end KES 33.21. However, the Kenyan Shilling gained against the Ugandan Shilling to close at KES 20.11, by adding 0.42 percent and against Rwandan Franc rose by 1.20 percent to close at KES 7.41.

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