NSE Turnover Passes Billion Mark
Kevin Namunwa  |  Sep 2, 2020

Turnover at the Nairobi Securities Exchange (NSE) increased fourfold to KSh 1. 1 Billion when trading closed at the bourse on September 2nd, 2020. This is on a volume of 42.24 Million shares transacted in 1,305 deals.

On Tuesday, the bourse recorded KSh 254.7 Million turnover with 9.39 Million shares traded in 1,056 deals.

The biggest mover was Safaricom which recorded a turnover of KSh 774.14 million from 25.82 Million shares traded.

There was a heavy presence of foreign investors, who accounted for 75% of all transactions on this counter, pushing up the share price to KSh 30 from the previous KSh 29.50.

Other stocks with big volumes included Bank of Kigali, whose prices remained constant at KSh 15.00 with foreign investors pushing its turnover to KSh 45 Million on a volume of 3 Million shares.

Equity transacted a volume of 2.87 Million, Uchumi- 2.36 Million shares and KenGen closing the top five movers with 1.61 Million shares exchanging hands.

KenGen declared a KSh 0.25 per share dividend, attracting interest from investors keen for a bargain.

Coffee grower Eaagads Limited was the biggest gainer at the bourse with its share price climbing 9.52% to KSh 11.50.

The firm, which reported a KSh 18.4 Million loss for its full-year results ended in March 2020, has its half-year period ending on 31st September, 2020.

The board of directors did not recommend payment of a dividend for the year ended 31 March 2020.

Other top gainers at the NSE this Wednesday included WPP Scangroup whose share price appreciated 9.03% to KSh 7.00, NSE share was up 6.15% to KSh 8.28 while Nairobi Business Ventures saw its share price rise 5% to 63 cents.
The share price of Express Kenya, which has already issued a profit warning over its end-year earnings for the period ended 31st December, 2020, had its share price rise 3.56% to KSh 4.66 at the end of trading this Wednesday.

Kapchorua Tea led the losers with its share price declining 8.24% to KSh 78.00.

It was followed by Total Kenya whose share price fell 8.06% to KSh 21.00, Uchumi was down 6.90% to 27 cents while shares of Sanlam fell 2.75% to KSh 12.40.

Flame Tree shares fell 1.41% to trade at KSh 1.40, closing the ranks of top 5 losers at the bourse this Wednesday.

The derivatives market had four contracts valued at KSh 133,030 concluded in today’s trading session. This was a decline from 7 contracts valued at KSh 240,300 concluded in the previous trading session.

The secondary bond market had bonds worth KSh6.34 billion transacted in 143 deals.