Investors offload banks, telecom shares in stifled Nairobi stock trading
11 August 2016, 14:39
Nairobi - The Nairobi Securities Exchange
(NSE) for the third straight day recorded stifled trading Wednesday
as cautious foreign investors sold mainly banking, energy and
telecommunication sector shares.
Some 11 million shares valued at 2.3 million U.S. dollars were
traded, down from 16 million shares valued at 3.3 million dollars
Kenya's leading telecom Safaricom was the top mover, trading 4
million shares that were largely foreign sales at an unchanged
price of 0.2 dollars.
The banking sector cumulatively moved 2.8 million to represent
25 percent of the day's traded volume.
Under the category, Kenya Commercial Bank Group had 1.5 million
shares changing hands at 0.32 dollars while Cooperative Bank was
unchanged at 0.14 dollars to move 680,000 shares.
In the energy and petroleum sector, some 2.5 million shares were
traded, with KenolKobil actively moving all the shares that were
mainly foreign sales at a high of 0.11 dollars.
The indicative NSE 20 Share Index Wednesday went up 4.12 points
to stand at 3,463.22, while the All Share Index was up 0.30 points
to stand at 143.93 and the NSE 25 Share Index shed 1.18 points to
settle at 3,929.57.
The bond market recorded a drop of 24 percent as securities
worth 5.9 million dollars were transacted, compared to 7.6 million