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By Patrick Alushula Updated Tue, January 5th at SHARE THIS ARTICLE Share on Facebook. Banks topped the list of worst investments among listed companies breaking a tradition at the Nairobi Securities Exchange last year in a period of record lows and harsh economic environment.

Kenya: Stock Market And Tourism Key to Growth - gepahotalefi.web.fc2.com

While most commercial banks are expected to sustain their profitability growth, turned out to be a turning point on their worth since all shed their valuations by as much as half. Commercial banks have in the past decade been the stars of the NSE. The huge downturn at the stock market of more than a fifth as tracked by the NSE 20 Share Index, had major implications for investment firms such as insurance firms that have all reported profit warnings.

It would be the worst performance since when the Kenyan stock market was ranked worst in Africa. Most of the companies listed on the NSE can only hope that will not be a replica of last year, which saw share prices of 48 companies tumble as bear run persisted on the bourse. Too bad has been the year that by August , top 14 tycoons at NSE were counting Sh Only firms in agricultural sector will have good memories for after they took the first five positions of the top 10 gainers in the year.

This performance was echoed in the quarter three data from the Kenya Bureau of Statistics that showed that agricultural sector expanded by by 7. However, Eaagads, which owns coffee plantations behind Kenyatta University failed to match her peers and saw its share price tumble from Sh42 to Sh26, shedding more than a third of its value.

Kenya Power, Kurwitu Ventures, Hutchings Biemer, A. Baumann closed the year with unchanged share prices compared to Hutchings Biemer and A Baumann are however candidates for delisting as the companies behind them are not actively trading. The year also ended with a record 16 companies issuing profit warnings, a confirmation that their returns will shrink by at least 25 per cent.

Of the 16, only Uchumi Supermarket saw its share price rise to close the year one position shy off the top 10 gainers after the entry of new management.

This could be viewed as a defiant outcome considering the losses, shake-up in management and closure of some of its stores during the year. Six of the firms with profit warnings featured in the top 10 losers.

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The firm announced closure of its Kenyan subsidiaries. Housing Finance Group was the worst hit with its share dropping by more than half while Cooperative Bank had the least drop of 10 per cent. Top tiers like Barclays shed off National Bank of Kenya lost Only Kenya Re and Jubilee Holdings defied the trend in Insurance sector by recording a Other four sector players will be hoping to find their footing this year.

Britam share lost Safaricom continued to perform better at the NSE closing the year with a The increase pushed the telecom firm to Sh billion, 32 per cent of total NSE market capitalisation.

All the eleven listed banks account for a combined market capitalisation of Sh The total NSE market capitalisation was Sh2. As trading at the bourse opens this year, most of the shares which have touched down may be the most lucrative for buys. Shares of banking, insurance and construction are likely to be attractive. Already, Home Africa is showing good signs after featuring among top gainers list with WATCH THIS Insecurity in Kapedo as relatives mourn the death of 8 people IEBC says no to extension of party primaries, initial gazetted timelines still stand TEARS UNSEEN: Child defilement victim living with trauma in Wajir.

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