NSE market remains flat as trading activity surges

Trading at the Nairobi Securities Exchange (NSE) was largely flat on Monday, with the benchmark NSE All Share Index (NASI) edging down 0.18 percent to 246.88 points.

Despite the muted index performance, market activity increased sharply, with shares traded rising 232 percent to 53.4 million, from 16.06 million in the previous session. Equity turnover also increased 9.5 percent to KSh682.16 million.

Nation Media Group led the market in both volume and value, accounting for 21.22 million shares worth KSh351.19 million. The counter was also the day’s top gainer, rising 9.97 percent to KSh16.55.

Sasini and Express were the other leading gainers, rising 3.57 percent and 3.13 percent, respectively.

Kakuzi was the biggest loser, falling 3.88 percent to KSh421.50, followed by Kenya Airways, which declined 3.85 percent to KSh5.50. Umeme dropped 3.21 percent to KSh6.04.

Foreign investors remained active, accounting for 30.3 percent of market participation and recording net sales of KSh358.09 million. Nation Media led foreign sales at 348,000 shares, followed by Safaricom at 19,000 and BAT at 10,000.

The market capitalisation stood at KSh4.14 trillion, marginally lower than KSh4.15 trillion in the previous session.