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Nairobi bourse 20 share index falls slightly as bank stocks plunge

Xinhua, May 10, 2016 Adjust font size:

Bank stocks at the Nairobi Securities Exchange (NSE) took a hit Monday as most of their share prices declined, further plunging the bourse's key index.

Kenya Commercial Bank (KCB) Group, Equity Bank, Barclays Bank and Diamond Trust Bank (DTB), all which are in the NSE 20 Share Index that measures performance of blue-chips, lost their share values by between 0.49 and 1 percent.

The drop in prices of the bank stocks saw the NSE 20 Share Index go down 2 points to stand at 3962.95.

KCB Group closed the day at 0.39 U.S. dollars after going down marginally by 0.63 percent. Similarly, Equity Bank, which in the last previous session went up to 0.40 dollars dropped Monday to 0.39 dollars.

Barclays Bank and DTB closed the day at 0.10 dollars and 2.03 dollars, a drop of 0.94 percent and 0.49 percent respectively.

In total, the banking sector had 3.5 million shares traded, with Equity Bank trading 2 million of the shares while KCB Group moved a paltry 257,000 shares.

In the telecommunication sector, Safaricom moved 7.5 million shares at an unmoved price of 0.17 dollars.

The energy and petroleum sector, on the other hand, saw 369,000 shares change hands.

A total of 15 million shares valued at 4.6 million dollars were traded at the bourse Monday, up from 2.6 million on a volume of 13 million shares posted last Friday.

The All Share Index (NASI) was up 0.03 points to stand at 145.64 while the NSE 25 Share Index ended 1.42 points higher to stand at 4207.11.

Foreign investors' participation stood at 61, with most of them buying in particular East African Breweries and Safaricom, which is set to release it full-year results this week. Endit