This archive report was first published on 16 May 2020.
On Friday, the Nairobi Securities Exchange (NSE) witnessed a substantial increase in trading activity, with 37 million shares changing hands and valued at KSh 1.7 billion. This marked a notable improvement from the previous day's trading, where 22 million shares were traded for KSh 439 million.
The improvement in trading activity was evident in the 67% increase in volume, 283% increase in turnover, and 20% increase in deals compared to Thursday's trading.
Among the top gainers for the day was Standard Group, whose share price appreciated by 10% to close at KSh 19.80 per share. Kenya Airways, Eveready East Africa, and Sameer Africa also recorded significant gains.
On the other hand, Nairobi Business Ventures was the top loser, with its share price declining by 10% to close at KSh 0.54 per share. Transcentury, Eaagads Limited, and Umeme Limited also recorded losses.
Safaricom led the way in terms of traded shares, with 13.4 million shares changing hands. Equity, KCB, and East African Breweries also recorded significant trading activity.
The benchmark NSE All-Share Index (NASI) gained 1.14 points to close at 135.33, while the NSE 20 Share Index gained 5.28 points to close at 1975.30. The NSE 25 Share Index also recorded a gain, increasing by 11.37 points to close at 3179.99.
According to the Central Bank of Kenya's (CBK) weekly bulletin, the Kenya Shilling remained relatively stable against major world currencies, exchanging at KSh 106.59 per US dollar on May 14 compared to KSh 106.08 on May 7.
The Treasury bills auction on May 14 received bids totaling KSh 24.1 billion against an advertised amount of KSh 24.0 billion, representing a 100.4% subscription.
Global financial markets sentiment remained edgy, with the negative impact of COVID-19 continuing to be felt. Despite optimism arising from the gradual easing of lockdowns in some countries, signs of weak economic performance in the Eurozone were evident in the contraction of the German economy by 2.2% in the first quarter of 2020.
International oil prices increased during the week, with the Murban oil price rising to US$ 30.34 per barrel on May 14 from US$ 27.67 per barrel on May 6.
