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Top stocks fall pushing Nairobi bourse 20 Share Index 33 points down

Xinhua, May 5, 2016 Adjust font size:

A decline in prices of several key stocks pushed the Nairobi Securities Exchange (NSE) 20 Share Index 33 points down on Wednesday to 3,989.71, falling below the 4,000 benchmark point once again in less than a week.

KCB Group, Safaricom and Cooperative Bank are among the top stocks in the key index that tumbled. The NSE 20 Share Index is calculated as a mean of the 20 best performing counters.

KCB Group dropped 6 percent to 0.39 U.S. dollars from 0.41 dollars on Tuesday, becoming one of the biggest losers of the day.

Safaricom, which is to release its financial results next week closed the day at a low of 0.16 dollars, which was a marginal drop of 0.3 percent.

Co-op Bank, similarly, went down 0.5 percent to close the day at 0.19 dollars.

The All Share Index (NASI) shed 0.75 points to stand at 145.72 while the NSE 25 Share Index was down 22.92 points to settle at 4,216.32.

Some 19 million shares valued at 5.1 million dollars were traded, up 4.2 million dollars posted in the previous trading session.

Safaricom, in the telecommunication sector, actively moved 9 million shares to be the day's biggest mover.

The banking sector had 7.3 million shares traded, representing 39 percent of the day's traded volume.

Equity Group Holdings, under the category, saw 5 million shares changing hands at between 0.39 dollars and 0.40 dollars.

KCB Group, on the other hand, moved a volume of 1.7 million shares, becoming the third biggest mover at the bourse. The insurance sector moved a million shares while the energy and petroleum sector 970,000.

The bond market registered improved activity with securities worth 19 million dollars transacted compared to 6 million registered the previous trading session. Endit