The current value is a four-month high since September 19 last year.
The market had started the year on a low note, losing Sh23.4 billion in the first week of trading.
The trend was, however, reversed in the second week sending it past December 31, 2018 level.
Nairobi Securities Exchange (NSE) #ticker:NSE investors closed January with a paper gain of Sh148.69 billion as the three key market indices shrugged off a terror attack.
Market capitalisation, a measure of the value of listed shares, closed the month at Sh2.25 trillion up from Sh2.1 trillion at the end of 2018, offering hope to investors whose value of shares fell by Sh419 billion last year.
The current value is a four-month high since September 19 last year.
The NSE 20 gained 124.52 points to close at 2,958.36 while NSE 25 gained 321.5 points to close the month at 3,873.09. This came as all share index gained 9.91 points to 140.43.
However, turnover was at $150.21 million (Sh15.28 billion), lower than $198.61 million (Sh20.2 billion) posted in a similar month last year, according to an analysis by Standard Investment Bank (SIB).
The market had started the year on a low note, losing Sh23.4 billion in the first week of trading.
Top 10 gainers
The trend was, however, reversed in the second week sending it past December 31, 2018 level.
East African Breweries Limited (EABL) #ticker:EABL and Equity Group, #ticker:EQTY which command second and third highest market capitalisation on the bourse, featured in the top 10 gainers lifting the overall gain.
EABL gained 21.9 per cent to push its value to Sh167.44 billion while Equity gained 17.4 per cent to close valued at Sh155.6 billion.
EABL gain was driven by 33 per cent growth in the brewers’ half-year results and a 25 per cent increase in interim dividend, according to Genghis Capital.
Also in top 10 gainers list were Express Kenya, Olympia Capital, Housing Finance, NIC Bank, Eagaads, Eveready East Africa, Car & General and Sanlam Kenya.
NIC Bank, which announced plans for a merger with Commercial Bank of Africa, gained 21.4 per cent in January to close at Sh33.75. Since the announcement, the firm’s paper wealth has climbed by Sh7.8 billion.
Safaricom,#ticker:SCOM which has much influence on the value of market capitalisation, gained by 7.4 per cent to Sh23.85 sending its value to Sh955.56 billion.
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Note: The results are not exact but very close to the actual.
