Last week, small counter stocks on the exchange recorded an uptick, evidenced by the rise in Week on Week activity, unlike the decline in large counters. In this episode, we break down why small counters stocks surged while large counter stocks dipped, and how that affected the performance of the exchange, analyse Scangroup results, and weigh how events in Guinea could affect bauxite prices globally.
NASI was down 4.1%, closing at 179.47 points due to the decline in large-cap stocks like Equity and Kakuzi, which fell 8% and 7.6%, respectively. The NSE-20 fell by 0.44%, closing at 2025.37 points, while the NSE-25 fell by 3.9%, closing at 3932.50. Equity Turnover fell by 15.6%, with Ksh 1.89 billion traded down from Ksh 2.5 billion worth of shares on the previous week. Scangroup reported a loss of Ksh 1.7 billion for 2020. Group revenue was down 22% to Ksh 2.24 billion, while billings fell to Ksh 6.34 billion from Ksh 9.28 billion in 2019. The company's operating expenses rose by 26% to Ksh 3.4 billion. However, investors were bullish despite the dim performance. Tech stocks were the top gainers globally. Nasdaq was up 21.6%, S&P 500 rose by 21.4% while the Dow 16.4% YTD. Week on Week, the Nasdaq was up 1.4%, S&P 500 up 0.7%, while Dow Jones was down 0.1%. We await GME results on Wednesday this week to see how they will affect other stocks like AMC. Guinea's coup led to the country closing its borders, which would affect bauxite going to China given that news of the coup already pushed Bauxite prices up.

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