Kenyan bourse indices decline as bear run hit stocks

NAIROBI, May 2 (Xinhua) -- All the indices of the Nairobi Securities Exchange (NSE) dropped significantly on Wednesday as a bear run hits stocks across the board.

The NSE 20 Share Index dropped a significant 45.47 points or 1.22 percent to stand at 3,689.59, mainly pulled down by the decline of Safaricom, which has the largest market capitalization at the bourse.

Safaricom declined 2.65 percent to stand at 0.27 dollars while others that fell were Barclays Bank 9 percent, Kenya Airways 6 percent and Kenya Commercial Bank 4.5 percent.

The All Share Index (NASI) went down 3.69 points or 2.06 percent to stand at 175.84 while the NSE 25 Share index shaved-off 81.18 points or 1.73 percent to stand at 4,619.20.

Safaricom was the day's traded stock with 18 million shares, which represented 61 percent of the day's traded value.

The banking sector traded shares which accounted for 15 percent of the day's traded value while at the bond market, securities worth 14 million dollars were traded. Enditem