Umeme Limited Top Gainer as Eaagads Limited Declines

Umeme Limited (UMME)  was the top gainer of the day. It gained 9.94% to close at KES 18.80, which was a KES 1.70 gain in share price.

Eaagads Limited (EGAD) was the top loser of the day. It had a loss of 7.41% to close at KES 25.00, which was a KES 2.00 drop in share price.

Safaricom Limited was the most traded share at the NSE. It traded 4,485,600 shares, which was 35.90% of all shares traded at the NSE.

Market turnover declined 60% from the previous session to USD 3.1m (KES 313.9m). Foreign investors, who accounted for 50.3% of trading, turned net sellers (54.99% of sales). The market’s positive price performance was largely driven by increased local institutional investor participation, which we believe was underpinned by the effect of the recent decline in average interest rates on Kenyan Government securities that have made the equity market relatively more attractive. Local investors mainly sought to buy the large banks, namely KCB, Equity & Co-op Bank.

The winners

The other top gainers of the day were:  Atlas Development and Support Services Ltd (ADSS), TransCentury Limited (TCL), Uchumi Supermarket Limited (UCHM) and Centum Investment Company Ltd (ICDC) .

The losers

The other top losers of the day were: Carbacid Investments Limited (CARB), Nairobi Securities Exchange Limited (NSE), B.O.C Kenya Ltd (BOC) and Flame Tree Group Holdings Limited (FTGH).

Most Traded Shares

The other most traded shares of the day were: The Co-operative Bank of Kenya Ltd (COOP), Kenya Commercial Bank Ltd (KCB), Equity Group Holdings Limited (EQTY) and Sameer Africa Limited (FIRE).

Indices

The NSE All Share Index gained 1.78 points to close at 143.12, while the NSE 20 Share Index gained 31.57 points to close at 3919.10.