The Nairobi Securities Exchange. Turnover at the Nairobi Securities Exchange (NSE) climbed 216.04 per cent to Sh1.16 billion on a volume of 15.71 million shares. Photo/File
Turnover at the Nairobi Securities Exchange (NSE) climbed 216.04 per cent to Sh1.16 billion on a volume of 15.71 million shares compared to Sh368.86 million on a volume of 17.15 million shares posted last week.
However, the political temperatures with only six days to the poll and its disruptive nature to business continues, according to a report by the AIB Capital to its clients.
The advance/decline ratio stood at 16/20 in the last session with the top gainers ending up on relatively low volumes. However, the experts predict moderate activity in Tuesday’s session.
In the manufacturing sector, EABL and BAT continue to witness moderate activity. High inflows from foreign investors supported the counter at Sh280 holding steady with demand of 5,500 shares met by a swelling supply of 15,800.
In the construction sector, East African Cables and the East African Portland announced their end year and H1 2013 results on Monday. The EA Cables reported a 65.8% growth in earnings but its turnover fell 13.49 per cent attributing to the metal prices on the London Metal Exchange.
The EA Portland bounced back from a loss position to post Sh376.63m H1 profit. The cement manufacturer is struggling to regain its market share after missteps in its strategic plan and a breakdown in corporate governance saw it lose its share to rivals ARM and Bamburi.
In the banking sector, the largest bank in asset size, KCB, and the largest bank in customer base, Equity, are yet to announce their end year earnings.
In the insurance sector, the experts anticipate Pan-African to hold at its current price or edge up marginally as strong demand on the counter kicks in since posting a 51 per cent earnings growth.
Safaricom continues to enjoy strong demand although it shed marginally in the last session to close at Sh5.65.
Uchumi fell under selling pressure to close at Sh19.35 after lukewarm H1 results and is expected to remain under pressure. The supermarket chain posted a 35 per cent net earnings dip to KES 131m.
Kenya Power is expected to drop further as it came under selling pressure to close at Sh17.05. The company announced its expectation of profit to halve in the year ending June and more than double in the next financial period.
Mumias and Scangroup are expected to release end year result on February 28.
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Note: The results are not exact but very close to the actual.
