NSE market capitalisation hits Sh1.65tr
Nairobi Securities Exchange (NSE) market capitalisation hit Sh1.65 trillion yesterday in a 15 per cent increase, coming on the back of a positive performance last week, as indicated by the rise in key share price indices.
Central Bank of Kenya’s weekly bulletin indicates that the NASI, NSE 25 and NSE 20 indices experienced gains of 6.2 per cent, 5.5 per cent, and 4.5 per cent, respectively, during the week ending June 1.
This upward movement in share prices is an encouraging sign for investors given that these are the key indicators of the performance of NSE.
In addition to the increase in share prices, market capitalisation and total shares traded also demonstrated positive growth, rising by 6.2 per cent and 12.4 per cent, respectively.
It is however worth noting that equity turnover experienced a slight decline of 0.3 per cent during the period last week.
“Market capitalisation and total shares traded also increased by 6.2 per cent and 12.4 per cent respectively,” the Central bank of Kenya (CBK) bulletin added.
Despite the recent improvements, the NSE continues to face challenges, remaining the worst-performing market in Africa year-to-date, down by 23 per cent according to African-markets.com.
This shows there is still room for improvement in order to regain investor confidence and strengthen the market’s position.
Looking at the individual performance of specific companies, last week saw notable gains for several firms. The top three performers were Everready, Nation Media Group, and HF Group.
Everready’s share price soared by an impressive 116.5 per cent, reaching 1.71. Nation Media Group also experienced a substantial increase of 27.3 percent, with its share price standing at 19.80. Similarly, HF Group saw a notable rise of 25.2 percent, reaching 4.23.
On the other hand, there were companies that faced challenges in the market. Express Kenya, although experiencing a gain of 31.7 per cent, ended the week with a share price of 3.28.