Kenya’s bourse records slow day in five months

Trading at the Nairobi Securities Exchange (NSE) recorded one of the slowest days in the last five months on Monday, with 12 million shares valued at 2.4 million U.S. dollars moved, down from 3.2 million dollars on a volume on 10 million shares.

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Safaricom CEO Bob Collymore
Safaricom CEO Bob Collymore

Kenya’s leading telecom Safaricom was the biggest mover, trading 3.3 million shares at slightly above 0.17 dollars. This was a huge improvement from the last trading session where the telecom moved a paltry 746,600 shares as investors held onto their stocks.

Safaricom CEO Bob Collymore
Safaricom CEO Bob Collymore
However, save for Safaricom, most of the other sectors led by the stocks in the banking category recorded huge drops.

The banking sector had 2.1 million shares traded, representing 18 percent of the day’s traded volume.

Under the category, Equity Group Holdings actively moved 1.1 million shares at an average of 0.40 dollars. Last Friday, the bank traded 1.23 million shares at the same price.

Kenya Commercial Bank (KCB) Group moved a paltry 332,000 shares at a slightly lower price of 0.41 dollars. KCB Group was the top mover at the bourse in the last trading session, with the firm trading 3.6 million shares at 0.41 dollars.

The energy and petroleum sector traded 1.4 million shares, with KenGen under the category actively moving 1 million shares.

The manufacturing and allied sector moved 3.4 million shares while the commercial and services had 785,000 shares traded.

The marginal decline in prices of some key stocks saw the NSE 20 Share Index going down 20.60 points to stand at 3,907.09.

The All Share Index (NASI), on the other hand, shed 0.40 points to stand at 146.31 while the NSE 25 Share Index was down 21.70 points to settle at 4,205.26.

The bond market had bonds worth 11 million dollars transacted, up from 3 million last Friday. Enditem

Source; Xinhua

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