Tuesday sees NSE market slump amid the Kenya shilling losing ground

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The NSE bourse closed slightly in the red on Tuesday against the backdrop the Kenya shilling weakening.

In particular, the equity securities saw a turnover of 381.17 million from a volume of 15.23 million shares traded on 843 equity deals.

The data signifies a shave of 2 million shares and over 100 billion off the mark at the closing of Monday.

Banking stocks dwindle

Losing the most ground were commercial banks with Stanbic Bank (CFC) taking the biggest hit with -4.21% loss. The dive would see it close at KES 91 per share.

Unga Group (UNGA) would set off the day’s top five losers with the miller having to close at a change of -3.45% on its share. The stock’s price would fill the day’s second-biggest tremor to close off at KES 28.

At third, KCB stood with value losses of 3.11% to the share price scorecards.

Standard Chartered Bank (SCBK) also made the losers list amid the scaling down of operations. The commercial lender saw a loss of 2.97% in share value to trade at KES 187.apiece.

Sameer on the positive

With news of the closure, tire distributor Sameer Africa (SMER) outperformed expectations by gaining +9.66%. The positive shakeup was also present with Stanlib Fahari (FHR) taking home the most gain at +9.75% to move to KES 8.78.

Sealing of the top three gainers was Carbacid (CARB) that posted a price value surge of 6.35% to close at KES 9.04 each share.

Biggest Movers

Safaricom continues to be the biggest mover after seeing a trading volume worth 5.84 million shares. BKG joins in second with 3.93 million shares traded despite the foreign lender’s drop in value at -1.79%.

All-Share index delivers

The NSE All-Share Index (NASI) took a decisive shift to close at 135.96 points on Tuesday. This was a slight positive gain that stood at +0.10% from Monday’s closing figures.

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About Author

Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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