Turnover at bourse dips to Sh459m
Market turnover retreated to Sh459 million from Sh883 million while the number of shares traded stood at 15 million compared to 25 million posted yesterday.
Safaricom was the day’s main feature with 10.5 million shares valued at Sh380 million changing hands at between Sh36 and Sh36.70 representing 82.95 per cent of the day’s traded value.
The banking sector had shares worth Sh47.5 million transacted which accounted for 10.36 per cent of the day’s traded value where KCB Group moved 186,000 shares valued at Sh7 million to close at Sh39.80.
Uchumi Supermarket’s counter moved a million shares yesterday at an average cost of Sh0.21.
This counter recorded the biggest dip last month having posted losses of 17.9 per cent, according to March NSE report.
The monthly report says Bamburi and Longhorn Publishers were the second and third biggest losers respectively with their shares losing 12.9 per cent and 11.7 per cent.
Ironically, the NSE itself was among the 10 biggest losers for the month with its shares losing 8.4 per cent, as the market continued to suffer virus shocks.
Other top losers for month included CIC, Diamond Trust Bank, ABSA, KPLC, Portland and Scangroup.
Standard Group, Olympia Capital and Housing Finance were the biggest gainers for the month with their shares recording a gain of 16.7 per cent, 15.1 per cent, and 14.9 per cent respectively.
Top gainers for the month included Sanlam, Serena, I&M, Eagaads, Williamson, Express Kenya and KCB.
Safaricom was the most traded share for the month accounting for the month accounting for 51.1 per cent of all the trade that month.
KCB Group and East African Breweries came a distant second and third respectively, accounting for 12.9 and 12 per cent of the shares traded respectively.
Market capitalization for the month dropped by 4.1 per cent to Sh2.44 trillion from Sh2.54 trillion in February.
Equity turnover increased by 11.5 per cent to stand at Sh12.1 billion up from Sh10.8 billion in February.
- Bonds turnover, on the other hand, decreased by 12.7 per cent in March to Sh67.6 billion down from Sh77.4 billion in February.
- NSE 20 share index fell by 3.6 per cent in the month of March compared to February.
- Last year, many listed businesses in the country posted reduced income mostly due to the effect of the pandemic on the economy.
Original Source Website: : https://www.pd.co.ke/business/turnover-at-bourse-dips-to-sh459m-71416/