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Holiday slows down NSE but trading remains vibrant

01 January 2014, 09:10

Nairobi - Share trading at Nairobi Securities Exchange (NSE) remains vibrant as investors defy ongoing festivities to push on with business.

Trading at the bourse picked up Monday with investors seeking to capitalize on gains made from rise in shares of various blue-chip companies.

The bourse started the week on a high of over 20 million shares traded, up from 13 million on Friday last week. "The bourse opened the week with a total of 20.4 million shares valued at 8.12 million U.S. dollars, up from 4.34 million dollars on a volume of 13.3 million shares posted last Friday," said analysis from NSE received today.

Key indices of the market recorded mixed performance during the session with NSE 20 Share Index dropping marginally as NSE All Share Index (NASI) gained. "NSE 20 Share Index shed 12.23 points to stand at 4874.29. NASI was up 0.71 points to stand at 135.83," said NSE analysts. Market capitalization, which measures shareholders wealth, increased slightly. The index surged to 22.2 billion dollars, down from 22.1 billion dollars. Prices of shares of various firms that are a favorite with investors, especially foreign, recorded gained as investors cashed in on the rises. Leading the gains were East Africa's region telecommunication giant Safaricom, Equity Bank and Kenya Commercial Bank (KCB). Safaricom traded at a high of 0.13 dollars and a low of 0.12 dollars. "Safaricom touched a high of 0.13 dollars on a volume of 11 million shares accounting for 54.4 percent of the day's traded volume," said NSE.

KCB, during the trading session, touched a high of 0.57 dollars and a low of 0.55 dollars. Last Friday, the company's shares closed the day at 0.54 dollars.

Equity Bank's shares, on the other hand, hit a high of 0.37 dollars, up from 0.36 dollars in previous trading session.

"The banking sector moved 5.6 million shares, representing 28 percent of the day's traded volume. Equity Bank moved 3.4 million shares at between 0.36 dollars and 0.37 dollars. KCB touched a high of 0.57 dollars on a volume of 1.8 million shares," noted NSE analysts.

Other top gainers were I&M Holdings, which saw its price jump from 1.34 dollars to 1.37 dollars. Losses and stifled trading were recorded in commercial and services, energy and petroleum and insurance sectors.

"Commercial and services sector accounted for 1.4 percent of the day's traded volume. Uchumi Supermarkets was down 3.2 percent to 0.22 dollars and moved 98,000 shares.

Scan Group declined to 0.57 dollars on a volume of 71,000 shares, down from 0.59 dollars posted the previous session," said the analysis.

The energy and petroleum sector moved 815,000 shares, which accounted for 4 percent of the day's traded volume. KenGen went down to 0.16 dollars and moved 400,000 shares.

"Insurance sector represented 3.1 percent of the day's traded volume. British-American Investments moved 222,000 shares and closed the day at an improved price of 0.17 dollars. Jubilee Holdings went down to 3.37 dollars and moved 100 shares," said analysis. The manufacturing and allied sector moved 1.4 million shares, which represented 7.3 percent of the day's traded volume. East African Breweries traded 1.1 million shares at a stable price of 3. 37 dollars. Monday's trading was a great improvement from the previous Monday's trading when Kenyans were heading to Christmas. Then, the bourse opened the week with a total of 11 million shares valued at 3.3 million dollars, down from 9.2 million posted the past Friday. Bond trading yesterday recorded gains, albeit marginal, with bonds worth 4.8 million dollars being transacted.

In the week leading to Christmas Day, bonds worth 4.5 million dollars were traded. During the week, bonds worth over 72 million dollars were traded during the week, down from 88 million the previous session.

- Xinhua


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