Bourse turnover surges 59 per cent to Sh513 million at start of week trading

Equity turnover at the Nairobi Securities Exchange surged by 59.34 per cent at the opening of the week’s trading to close at Kes513 million from Kes322 million recorded in the previous session.

The top traders today were regional alcohol manufacturer EABL, telco giant Safaricom and Equity Group. The counters’ turnover stood at KES265 million, KES126 million and KES55 million respectively.

Foreign investors, who represented 57 per cent of the bourse trading today, were net-sellers recording total outflows of KES250 million as compared to net inflows of KES20 million in the previous session.

In terms of company specific foreign activity, foreigners were net-sellers on EABL, Safaricom and Equity Group stocks.

The shilling depreciated against the greenback to close at KES107.84 compared to KES107.80 recorded in the previous session.

Kenya’s currency has remained under pressure since mid-March last year, when the country reported its first case of COVID-19. As of June 7, Kenya has recorded a total of just over 172,000 Coronavirus cases.

Read also: How Equity Bank rode on SME guarantee scheme to hit record profits

TPS Eastern Africa (Serena) was the day’s biggest gainer recording 7.14 per cent growth to close at Kes15.

Insurance company Jubilee was the second most improved stock recording 7.05 per cent jump to Kes300 a piece

Real estate investment company Home Africa was the top loser of the day shedding 4.8 per cent at the price of Kes 40 cents per share closely followed by the Nairobi Securities Exchange that declined 4.21 per cent at the price of 8.64 shillings per share.

In the secondary bond market, turnover was up increasing by 175.48 per cent to KES4.41 billion from Kes1.60 billion worth of bonds traded previously. The number of deals traded equally increased to 80 from 47 recorded in the prior.

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