Turnover at NSE grows 43%, highest in three months

Turnover at NSE grows 43%, highest in three months

NSE chief executive Geoffrey Odundo monitors daily trading at the Nairobi Bourse/ Trading activities at the Nairobi Securities Exchange improved to the highest level in six weeks, recording a turnover growth of 42.5 per cent in the week ended June 25.

Weekly data from the Central Bank shows turnover at the Nairobi bourse rose to Sh3.37 billion on Friday compared to Sh2.7 billion the previous week.

The volume of shares traded also rose 67.49 per cent to close the the week at 112.12 million shares exchanging hands compared to 66.94 million sold the previous week.

Even so, investors wealth did not grow, with the market capitalization stagnating at Sh2.67 trillion.

The NSE 20 share index shed 2.10 points or 0.11 per cent to close the week at 1,899.11 points, while the NSE 25 share index gained 1.93 points or 0.05 per cent to close the week at 3,749.19.

The benchmark all share index shed 0.44 per cent week on week to close the week at 171.62 points.

Safaricom was the most active counter with shares valued at Sh 1.7 Billion transacted, making up 52.02 per cent of the week’s traded value. Its shape price, however, dropped by 1.2 per cent to trade at Sh40.75 from Sh41.25 as the hype of Ethiopian market entry eased.

The banking sector was second with shares worth Sh1.16 billion transacted, accounting for 34.66 per cent of the week’s traded value.

Equity Group Holdings Plc share price was up 4.13 per cent to Sh46.60, up from Sh44.75 registered the previous week with shares worth KSh533 Million transacted.

KCB Group edged up 3.06 per cent to Sh43.85 on a volume of 10.5 million shares valued at Sh458 million. Co-operative Bank moved seven million shares valued at Sh88.8 Million and closed at Sh13.00 per share.

The manufacturing and allied sector had shares worth Sh277 Million transacted, representing 8.25 per cent of the week’s traded value.The NSE derivatives market closed the week with a total of 164 contracts valued at Sh6.58 million transacted, compared to 300 contracts valued at Sh10.4 million posted the preceding week.Trading on the secondary bond market was up 52 per cent, with Sh33.06 billion worth of bonds traded against Sh21.75 billion worth of bonds transacted the previous week.

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