Business

NSE market value hit Sh439m on eve of General-Election

Wednesday, August 10th, 2022 08:00 | By

Nairobi Securities Exchange (NSE) closed trading on Monday ahead of yesterday’s General -Election with a market value of Sh438.6 million.

The value was derived from a total of 19,080,100 shares moved in 1,175 deals. The bourse resumes activity today, having temporarily stopped yesterday to allow for traders to participate in the election of their leaders.

Friday’s trading

The volumes represented a 92 per cent improvement in volume, 254 per cent change in turnover and 13 per cent improvement in deals from Friday’s trading, pushing the current market capitalisation to Sh2.23 trillion. Monday’s trading saw 27 gainers and 11 losers.

Among the gainers were Limuru Tea, whose stock defied the uncertainty surrounding its take over by Ekaterra Kenya, appreciating by 9.74 per cent to close at Sh507 per share on a traded volume of 100 and one deal.

 Limuru Tea is currently the 43rd most valuable stock on the NSE with a market capitalization of Sh1.2 billion, about 0.055 per cent of the NSE equity market. 

On Monday, the Capital Market Authorities (CMA) deferred a decision to approve Ekaterra’s take-over bid to a later date. CMA did not explain why.

Limuru Tea was followed by Equity Group Holdings whose stock appreciated by 6.74 per cent), while Liberty Kenya Holdings completed the top three stocks whose shares appreciated by 5.42 per cent. 

Eveready East Africa was the day's biggest end-of-day looser with a price depreciation of -8.75 per cent at Sh0.73 per share, followed by home Afrika with -5.71 per cent and gas, BOC Kenya, which manufactures industrial and medical gases shares trading at -4.44 per cent.

Safaricom recorded the highest volume of 12.7 million traded shares, followed by Kenya Power and Lighting Company at 2.68 million, KenGen at 786,800 and CIC Insurance Group at 612,600.

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