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Nairobi bourse's 20 share index up 18 points on blue-chips profit

Xinhua, May 12, 2016 Adjust font size:

The Nairobi Securities Exchange (NSE) 20 Share Index gained 18 points on Wednesday, reversing a downward trend as banks and telecoms sector share prices rose following blue-chips' continued announcement of financial results.

Kenya's leading telecom Safaricom, Kenya Commercial Bank (KCB) Group and Equity Group Holdings, are some of the stocks whose prices went up.

Safaricom edged up slightly to 0.17 U.S. dollars from about 0.16 dollars on a volume of 4.4 million shares following the company's announcement of 380 million dollars full-year profit on Wednesday.

Equity Group Holdings, on the other hand, changed hands at a high of 0.41 dollars, up from 0.40 dollars. The bank on Tuesday announced a profit of 50 million dollars.

Its share was the most heavily traded at the bourse Wednesday, moving 9 million shares.

KCB Group, which is set to announce its quarter one profit, rose marginally to 0.40 dollars and moved 1.2 million shares.

Some 21 million shares valued at 6.2 million were traded, down from 29 million shares valued at 9.8 million in the previous session.

The banking sector moved a total of 11 million shares, representing 52 percent of the day's traded volume.

The manufacturing and allied sector moved 1.5 million shares while the insurance sector moved 1.1 million shares.

The energy and petroleum sector had 1.6 million shares traded, with Kenya Power actively moving a million of the shares.

The commercial and services sector moved 802,000 shares, with Kenya Airways touching a 12-month low of 0.04 dollars on a volume of 430,000 shares.

Like the 20 Share Index, the All Share Index (NASI) was up 0.57 points higher to stand at 146.21 while the NSE 25 Share Index was up 14.20 points to stand at 4,215.56.

Bonds worth 23 million dollars were transacted compared to 9 million posted Tuesday. Enditem