The Nairobi Stock Exchange (NSE) is the principal stock exchange of Kenya. It began in 1954 as an overseas stock exchange while Kenya was still a British colony with permission of the London Stock Exchange. The NSE is a member of the African Stock Exchanges Association.
Nairobi Stock Exchange is Africa's fourth largest stock exchange in terms of trading volumes, and fifth in terms of market capitalization as a percentage of GDP.[1] The Exchange works in cooperation with the Uganda Securities Exchange and the Dar es Salaam Stock Exchange, including the crosslisting of various equities.
The exchange has pre-market sessions from 09:00am to 09:30am and normal trading sessions from 09:30am to 03:00pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.[2]
The NSE's offices and trading floor are located at the Nation Centre along Kimathi Street. Trading is done through the Electronic Trading System (ETS) which was commissioned in 2006. A Wide Area Network (WAN) platform was implemented in 2007 and this eradicated the need for brokers to send their staff (dealers) to the trading floor to conduct business. Trading is now mainly conducted from the brokers' offices through the WAN. However, brokers under certain circumstances can still conduct trading from the floor of the NSE.
Two indices are popularly used to measure performance. The NSE 20-Share Index has been in use since 1964 and measures the performance of 20 blue-chip companies with strong fundamentals and which have consistently returned positive financial results. Included in the Index are Mumias Sugar, Express Kenya, Rea Vipingo, Sasini Tea, CMC Holdings, Kenya Airways, Safaricom, Nation Media Group, Barclays Bank Kenya, Equity Bank, Kenya Commercial Bank, Standard Chartered Bank, Bamburi Cement, British American Tobacco, Kengen, Centum Investment Company, East African Breweries, EA Cables, Kenya Power & Lighting Company Ltd. and Athi River Mining. This index primarily focuses on price changes for these 20 companies.
In 2008, the Nairobi Stock Exchange All Share Index (NASI) was introduced as an alternative index. Its measure is an overall indicator of market performance. The Index incorporates all the traded shares of the day. Its attention is therefore on the overall market capitalization rather than the price movements of select counters.
There is however a third Index; the AIG 27 Index that compares price movements of 27 companies identified as relatively stable. The rational behind the index compares to that of the NSE 20-Share Index. But whereas the AIG is primarily defined by the AIG company (a financial service company and part of the AIG Group), the 20-share Index is from the NSE itself.
Contents |
Market listings
Stock listings as of April 2008:
Main investments market listings
(MIMS)
Agricultural sector
| Symbol | Listing | Notes | |
|---|---|---|---|
| -- | Kakuzi Limited | Coffee, tea, passionfruit, avocados, citrus, pineapple, others | |
| RVP | Rea Vipingo Sisal Estate | Sisal | |
| STC | Sasini Tea and Coffee | tea, coffee | |
| -- | Unilever Tea | -- |
Commercial and Services
| Symbol | Listing | Notes |
|---|---|---|
| -- | Access Kenya Group | internet service provider |
| -- | Car & General Kenya | -- |
| CMC | CMC Holdings | Cooper Motor Corporation; automobile distribution |
| HBL | Hutchings Biemer Limited | furniture |
| KAL | Kenya Airways | Kenya's flagship airline; crosslisted at Uganda Securities Exchange and Dar es Salaam Stock Exchange |
| -- | Marshalls EA | vehicles |
| NMG | Nation Media Group | newspapers, magazines, radio stations, television stations |
| -- | Safaricom | Mobile telephony |
| -- | Scangroup Kenya | advertising and marketing |
| -- | Standard Group Ltd. | newspaper publisher |
| TPS | TPS Serena | Tourism Promotion Services; hotels & resorts |
| USL | Uchumi Supermarkets | -- |
Industrial and allied
| Symbol | Listing | Notes |
|---|---|---|
| ARM | Athi River Mining | cement, fertilizers, minerals; mining and manufacturing |
| BCC | Bamburi Cement | cement |
| BOC | BOC Kenya | East African Oxygen |
| BAT | British American Tobacco Limited | -- |
| -- | British Oxygen Kenya | oxygen |
| CIL | Carbacid Investments | carbon dioxide |
| CBL | Crown-Berger (Kenya) | paints |
| ECL | EA Cables | cable manufacture |
| EPC | EA Portland Cement | portland cement |
| -- | East African Breweries | beer; crosslisted at Uganda Securities Exchange and Dar es Salaam Stock Exchange |
| -- | Eveready East Africa | batteries, disposable shavers |
| -- | Kengen | electricity generation |
| KOC | Kenya Oil | petroleum |
| MSC | Mumias Sugar | sugar estates and manufacture |
| -- | Olympia Capital Holdings | vinyl floor tiles; vinyl sheeting; rubber tiles; building materials |
| -- | Sameer Group | High tech, agribusiness, manufacturing, transport |
| TKL | Total Kenya | petroleum |
| UGL | Unga Group | flour milling |
Finance and Investment
| Symbol | Listing | Notes |
|---|---|---|
| BAR | Barclays Bank of Kenya | -- |
| -- | Centum Investment Company | -- |
| CFC | CFC Stanbic Bank | banking, investments |
| DTB | Diamond Trust Bank of Kenya | banking, investments |
| EBL | Equity Bank Group | crosslisted at the Uganda Securities Exchange |
| HFC | Housing Finance Company | mortgage financing |
| JIC | Jubilee Insurance | crosslisted at the Uganda Securities Exchange |
| KCB | Kenya Commercial Bank Group | banking & investments. Crosslisted on the Uganda Securities Exchange, the Dar-es-Salaam Stock Exchange and the Rwanda Over The Counter Exchange |
| -- | Kenya Re-Insurance Corporation | reinsurance |
| NBK | National Bank of Kenya | -- |
| NIC | National Industrial Credit Bank | -- |
| PAI | Pan Africa Insurance | -- |
| SCB | Standard Chartered Bank | -- |
Alternative investment markets segment
(AIMS)
| Symbol | Listing | Notes |
|---|---|---|
| ABC | A Baumann | machinery |
| CTL | Citytrust Ltd | financial services |
| EAL | Eaagads | Coffee |
| EXP | Express Kenya | logistics |
| KTC | Kapchorua Tea | -- |
| -- | Kenya Orchards | fruit, preserves, juice |
| LTC | Limuru Tea | -- |
| GWK | Williamson Tea Kenya | -- |
Fixed income security market segment
(FISMS)
| Symbol | Listing | Notes |
|---|---|---|
| -- | Kenya Power & Lighting Ltd 7% Pref | electrical transmission, distribution and retail |
| -- | Kenya Power & Lighting Ltd 4% Preferred | -- |
External links
- Nairobi Stock Exchange website
- Capital Markets Authority, Kenya - state corporation regulating capital markets in Kenya, including the Nairobi Stock Exchange
- KenInvest - state corporation, investment trade association
- A history and description of the Nairobi Stock Exchange from MBendi
- African Stock Exchanges Association
See also
References
- ^ "NSE - 4th largest Exchange in Africa". millenniumit.com. http://www.millenniumit.com/esp/news_7.php. Retrieved October 16 2006.
- ^ Market Hours, Nairobi Stock Exchange via Wikinvest
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