Capital Markets

East African Breweries, KCB dominate stock trade at bourse

An investor at the Nairobi Securities Exchange. FILE PHOTO | NMG
An investor at the Nairobi Securities Exchange. FILE PHOTO | NMG 

East Africa Breweries and Kenya Commercial Bank dominated trading on Monday at the Nairobi Securities Exchange (NSE), jointly accounting for 70 per cent of total traded turnover at the bourse on the back of foreign investor trades.

East Africa Breweries Limited (EABL) led the market in turnover at Sh97.3 million, while Kenya Commercial Bank (KCB) traded Sh84.7 million worth of shares.

The total turnover for the market stood at Sh259 million.

With most other counters having a quiet day at the bourse, the NSE 20 share index was largely flat, gaining only one point to end the day at 2963 points.

The market capitalisation of the NSE grew by Sh4 billion to stand at Sh1.764 trillion.

“Equity turnover rose 15.5 per cent to Sh259 million. Activity was mainly concentrated on KCB and EABL, which jointly accounted for 70.3 per cent of total turnover. Foreign investors were net sellers and accounted for 76.8 per cent of market activity,” said Standard Investment Bank in a daily market report.

The losers and gainers list was dominated by small cap stocks.

The top gainers Monday were National Bank of Kenya, up 9.1 per cent to Sh6, Sasini which was up 6.6 per cent to Sh20.25 and Olympia Capital which gained 5.7 per cent to Sh2.80.

On the losing end, TransCentury led the market with a loss of 7.1 per cent to close at Sh5.25, followed by Longhorn Publishers which shed 5.8 per cent to Sh4.05.