Home ECONOMY Nairobi Business Ventures is week’s top price gainer at NSE

Nairobi Business Ventures is week’s top price gainer at NSE

by biasharadigest

Nairobi Business Ventures(NBV), a listed Kenyan shoe and leather accessories retail chain operating under the brand name KShoe, recorded a 44.48% rise in share price to close last week at KSh12.05 with shares worth KSh 4 Million transacted, emerging the weekly top price gainer.

Nairobi Business Ventures Stock Performance

With a current market capitalization of KSh 284.38 Million, Nairobi Business Ventures began the year with a share price of KSh 4.28 and has since gained 181.54% on that price valuation, ranking it 1st on the NSE in terms of year-to-date performance.

Nairobi Business Ventures stock has accrued 120.7% over the past four-week period alone. NBV sources its shoes and accessories from China and India and rebrands them for the local market.

Nairobi business Ventures has six retail outlets selling KShoes in prime locations in Nairobi. The company has ventured into manufacturing its own leather products and has embarked on an accelerated expansion drive which will see it roll out more than 25 stores over the next half decade.

Crown Paints Plc was last week’s worst performer, recording a 10.25% share price decline to close the week at KSh 35.90 per share.

NSE turnover dropped 24.15% KSh 2.56 Billion at the end of last week from KSh 3.37 Billion the prior week.

The volume of shares traded at the exchange similarly posted a 20.33% decline to close the week with 89.33 million shares exchanging hands compared to the 112.12 Million traded the previous week.

The benchmark all share index of the Nairobi Securities Exchange (NASI) declined last week, shedding 0.24% week on week to close the week at 171.21 points. This NASI now stands at 12.56% in the year to date performance.

HOWEVER, the NSE 20 and the NSE 25 share indices were on the positive edge, with the 20 share index gaining 29.31 points or 1.54% and the 25 share index gaining 32.01 points or 0.85% to close the week at 1928.42 points and 3781.20 basis points respectively.

The NSE 20 and the NSE25 share indices have gained up to 3.21% and 10.72%, respectively, in year-to-date performance.

Safaricom Plc emerged as last week’s top mover on the Nairobi Securities Exchange, gaining by 1.47% to KSh.41.35, up from KSh.40.75 registered the previous week. The telco had shares worth KSh.1.2 Billion transacted, representing 47.66% of the week’s traded value.

The Banking Sector came in second overall, with shares worth KSh 812 Million transacted, which accounted for 31.77% of the week’s traded value.

Equity Group Holdings Plc had 8 Million shares valued at KSh 374 Million transacted and closed last week at KSh 46.70 per share.

KCB Group Plc declined by 3.08% in share price action to KSh 42.50, down from KSh43.85 per share registered the previous week with shares worth KSh167Milllion transacted.

Nation Media Group Plc closed last week 8.46% higher to KSh25.00 per share with 9.8 Million shares valued at KSh246 Million.

The Derivatives Market closed last week with a total of 140 contracts valued at KSh 4.5 Million transacted, a decline compared to 164 contracts valued at KSh 6.58 Million posted in the preceding week.

Trading on the secondary bond market recorded a 27.9% growth in activity with KSh23.84 Billion worth of bonds traded against KSh 33.06 Billion value of bonds transacted the previous week.

ALSO READ:Nairobi Business Ventures to Acquire 4 Businesses at KSh3 Billion

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