Banks, energy stocks dominate Nairobi bourse trading

Some 19 million shares valued at 3.6 million U.S. dollars were traded at the Nairobi Securities Exchange (NSE) Wednesday, up from 17.5 million shares worth a similar amount in the previous session as banking and energy stocks dominated trading.

Regional oil marketer KenKobil was the day's top trader, moving 6 million shares, mainly foreign buys, at unchanged price of 0.14 dollars. In total, the energy sector traded 6.2 million shares to account for 32 percent of the traded volume.

Kenya Commercial Bank (KCB) was the day's second top mover after its 3.7 million shares exchanged hands at a high of 0.29 dollars. Cooperative Bank, on the other hand, traded 3 million shares at 0.14 dollars, a rise of 0.4 percent.

In total, the banking sector had 6.9 million shares traded and represented 37 percent of the day's traded volume.

Trading of Kenya's leading telecom operator Safaricom shares slowed down to stand at 2.6 million shares at 0.19 dollars, down from 10.1 million shares Tuesday.

The insurance sector, on the other hand, moved 2 million shares, with Britam Holdings trading 1.1 million of the total at a 7.9 percent declined price of 0.11 dollars.

A drop in prices of some large stocks, including Safaricom and Britam saw the NSE 20 Share Index go down 12.11 points to stand at 3,194.13.

The All Share Index (NASI), similarly, edged 0.34 points lower to stand at 132.27 and the NSE 25 Share Index was down 13.79 points to stand at 3,498.99. Endit