Kenya’s bourse indices shrink on falling stock prices


Nairobi Securities Exchange (NSE) blue-chip and the All Share indices shrunk on Wednesday squeezed by decline in stock prices.

The blue-chip NSE 20 Share Index dropped 31 points to close at 3,713.19 from 3,745.01 points on Tuesday while the NSE All Share Index (NASI) went down to 179.44 from a high of 180.43 points.

Some of the stocks that declined by a bigger margin were Kenya Orchards (9 percent), Barclays Bank (5.1 percent) and Boc Gas (8.3 percent).

Safaricom was the top traded stock but moved only 6.6 million shares at unchanged price of 0.29 U.S. dollars, a decline from 17 million shares on Tuesday.

Cooperative Bank moved 4.2 million shares at 0.14 dollars to clinch the second spot while Equity Bank came third with 3.1 million shares at 0.42 dollars.

Kenya Commercial Bank ended the day with 1.5 million shares at a declined price of 0.43 dollars while KenolKobil closed the top five slot with 594,200 shares at 0.14 dollars.

Turnover stood at 6.7 million dollars on a volume of 19 million shares, from 30 million worth 10 million dollars on Tuesday. Investors’ wealth, measured by market capitalization, surged to some 26.2 billion dollars. Enditem

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