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Low trading at Nairobi bourse as share prices slide

Xinhua, September 6, 2016 Adjust font size:

The Nairobi Securities Exchange (NSE) Monday transacted 26 million shares valued at 6.1 million U.S. dollars, a 46-percent drop from 11 million dollars on a volume of 45 million shares posted last Friday, as prices of key stocks tumbled.

Kenya's leading telecom Safaricom, Equity Bank, Cooperative Bank and Kenya Commercial Bank (KCB) are among top 20 stocks whose share prices went down Monday as foreign investors withheld trading.

Equity Bank was the day's biggest mover with 15 million shares changing hands at a low of 0.25 dollars, a 0.9-percent decline.

Cooperative Bank was down 4 percent to close the day at 0.11 dollars and moved 1 million shares, while KCB moved 716,000 shares and closed the day at 0.26 dollars after going down 0.9 percent.

In total, the banking sector had 17 million shares traded to represent 66 percent of the day's traded volume. Safaricom in the telecommunication sector traded 5.3 million shares at 0.18 dollars, declining 7.8 percent Monday.

In the commercial and services sector, some 1.2 million shares were moved with TPS Eastern African trading 895,000 shares at unchanged price of 0.17 dollars.

The NSE 20 Share Index was down 16.59 points to stand at 3,171.28 following the price drops. The All Share Index ended 4.41 points lower to stand at 129.65 while the NSE 25 Share Index dropped 64.90 points to settle at 3,420.52. Endit