NSE starts 2020 on positive note as market value grows

Wednesday, January 8th, 2020 00:00 |
NSE 20-Share Index. Photo/PD/FILE

Trading at the Nairobi Securities Exchange (NSE) started 2020 on a positive note after the bourse recorded a growth in market capitalisation, value of  firms’ outstanding shares on the market.

Market value increased to Sh2.549 trillion in January from Sh2.540 trillion in December 2019, representing an increase of 0.4 per cent.

Among the counters which performed well during the first day trading of the year was KPLC 7.3 per cent, WPP 7.3 per cent, Sasini 6.2 per cent, Eaagads Ltd 4.0 per cent, Williamson Tea -0.5 per cent and I&M Holdings 3.2 per cent

However, majority of the counters did not change. The share price trading remained the same. 

Slight increment

Others which registered a slight increment include Kapchorua Tea, East Africa Breweries, I&M, Equity Group, KCB Group, Standard Chartered, Co-operative Bank and CIC Insurance Group. 

Sterling Capitals, director, John Kirimi said the market indices gained in the first week of the year with NASI, NSE-20 and NSE-25 indices rising 1.2 per cent, 2.3 per cent and 1.8 per cent, respectively.

He said if the process continues with the same momentum, then investment in the capital market is expected to improve a great deal in the year. 

“Turnover rose 2.3 per cent during the week in review to Sh905 million from Sh885 million in the prior week,” he added. 

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