This archive report was first published on 24 July 2019.
On July 24, 2019, the Nairobi Securities Exchange (NSE) witnessed a significant drop in futures trading, with the value plummeting to Sh160,750. This decline came after a day of high trading on July 23, where the value had spiked to Sh452,560.
With only 57 days to expiry of the first quarterly single stock futures contracts, only Equity Bank and Kenya Commercial Bank were involved in NEXT trading at the bourse on July 24. The remaining single stock futures — Safaricom, East African Breweries Limited (EABL) and British American Tobacco (BAT) Kenya — were silent on Tuesday.
Equity Bank transacted 3 contracts valued at Sh120,500 at a price of Sh40.91, while KCB traded one contract at Sh40.20 at a total value of Sh40,250.
The contracts transacted on July 24 are due to expire on September 19 and represent the first of the futures contracts that will run down since the derivatives market went live on July 4.
At closing bell, NSE market turnover retreated to Sh429 million from the previous session’s Sh525 million. The volume of traded shares stood at 13.2 million against 28.8 million posted yesterday.
The day’s biggest mover in terms of volumes was Safaricom, who at 7.5 million shares valued at Sh208 million representing 42.17% of the day’s traded value.
Meanwhile, all NSE indices closed in the green zone, with the All Share Index NASI picking up 0.77 points to stand at 148.81, the NSE 20 share Index was 5.86 points higher to stand at 2681.17, and the NSE 25 Share index added 17.94 points to settle at 3602.49.
The Bond market meanwhile had bonds worth Sh4.26 billion transacted, rising after having posted Sh3.7 billion the previous day.
