Nairobi bourse slows down as top stock prices go flat

Some 20 million shares valued at 3.7 million U.S. dollars were traded at the Nairobi Securities Exchange (NSE) Tuesday, up from 16 million shares worth 3.3 million dollars in the previous session.

Prices of eight stocks that include Cooperative Bank, Bamburi and Kenya Commercial Bank remained unchanged during the session while six others went down by between 1 percent and 5 percent. The rest of the stock recorded rises of between 0.9 percent and 6 percent.

Safaricom, Kenya's leading telecom, was the day's biggest mover with 9.6 million shares at a declined price of 0.17 dollars, representing 47 percent of the day's traded value.

KenolKobil was the second best traded stock, actively moving 4.6 million shares valued at 0.13 dollars, a rise of 4 percent.

KenGen and NIC Bank were the third and fourth best stocks respectively after moving 1.1 million each at 0.06 dollars and 0.22 dollars respectively.

Scangroup closed the list of the best top five stocks after trading 628,600 shares at unchanged price of 0.15 dollars.

The NSE 20 Share Index lost marginally to stand at 2,933.46 from 2,933.69 in the previous session while the All Share Index (NASI) ended 0.16 points lower to stand at 124.95 and the NSE 25 Share Index was down 1.64 points to stand at 3,251.61.

The bond market registered reduced activity with securities worth 6.7 million dollars transacted compared to 13 million dollars posted the previous session. Endit