By Bedah Mengo NAIROBI (Xinhua) --
Trading at the Nairobi Securities
Exchange (NSE) went down 44 percent as investors kept off the
market following jitters over the full Supreme Court ruling on
presidential petition delivered Wednesday.
Turnover stood at
3.3 million U.S. dollars on a volume of 12 million shares, down
from 22 million shares worth 5.8 million dollars on Tuesday.
participation during the session stood at 52 percent from 60
percent on Tuesday as the traders remained net sellers.
Safaricom was the
top traded stock, moving a total of 7.3 million shares at 0.25
dollars, a 1-percent rise. On Tuesday, the telecom moved 12.4
The rest of the
stocks did not move more than 1 million shares. Following
Safaricom was investment firm ICDC which moved 817,200 shares.
Bank, which traded a paltry 702,100 shares at an improved price
of 0.42 dollars, came third.
The NSE 20 Share
Index declined to 3,783.69 from 3,784.91 while the NSE 25 Share
Index added few points to stand at 164.78 from 163.94.
Slight gain for key indexes at
NAIROBI, (Xinhua) --
Key indices gained marginally on Tuesday at
Kenya’s Nairobi Securities Exchange (NSE), reversing a negative
trend witnessed in the last three sessions.
The NSE 20 Share
Index went up 4.30 points to stand at 3,784.91 while the NSE 25
Share Index added 28.92 points to stand at 4,310.72 as prices of
stocks across the board rose.
At least seven
stocks, including Safaricom in the large 20 companies at the
bourse, went up. The leading telecom rose 4 percent to trade at
0.25 U.S. dollars, up from 0.24 dollars in the previous session.
Safaricom in total
moved 12.4 million shares as it retained the top trade stock
position at the securities market.
It was followed by
Kenya Commercial Bank, which traded a paltry 2.2 million shares
at an improved price of 0.42 dollars.
KenGen in the energy sector were the third and fourth top traded
stocks after moving 1.3 million and 1.2 million shares
Kenya Airways closed
the list of the top traded stocks after moving 798,300 shares at
an unchanged price of 0.04 dollars.
Turnover rose to 5.8
million dollars from 2 million dollars as the number of shares
traded stood at 22 million shares against 8 million posted on
At the bond market,
securities worth 9.7 million dollars were transacted, up from 8
million dollars in the previous session.
Nairobi bourse key indices,
turnover fall as political uncertainty rages
By Bedah Mengo NAIROBI, (Xinhua) --
The Nairobi Securities Exchange (NSE)
started Monday on a low as all the key indices dropped,
including turnover, as political uncertainty over the repeat of
presidential polls continued in Kenya.
The NSE 20 share
index was down 3.37 points to stand at 3,780.61 as key shares
like Safaricom, which has the biggest capitalization at the NSE,
went down by 3 percent.
Similarly, All Share
Index (NASI) was down 2.46 points to stand at 162.03 while the
NSE 25 Share Index went down 25.27 points to stand at 4,281.80.
A total of 8.4
million shares valued at 2 million U.S. dollars were traded,
against 35 million shares valued at 13 million posted on Friday.
Safaricom was the
top trader after moving 3.6 million shares at between 0.24
dollars and 0.25 dollars, which represented 44 percent of the
day’s traded value.
The banking sector
accounted for 33 percent of the day’s traded value, with Kenya
Commercial Bank being the most actively traded counter in the
sector with 1.1 million shares exchanging hands at between 0.41
Cooperative Bank was
unchanged at 0.16 dollars and moved 827,200 shares.
The energy and
petroleum sector represented 3.4 percent of the day’s traded
value, with KenGen moving 429,000 shares valued at 0.09 dollars.
The bond market
registered a reduced activity with bonds worth 7 million dollars
Kenya shilling weakens as top
court explains why it annulled polls
NAIROBI (Xinhua) --
Kenya shilling weakened slightly on Wednesday as
the Supreme Court delivered its full ruling on why it cancelled
President Uhuru Kenyatta’s win in Aug. 8 polls.
The shilling traded
at an average of 103.3 against the U.S. dollar, down from
Tuesday’s position of 103.1.
The Central Bank of
Kenya (CBK) placed the value of the local currency to the dollar
at 103.28, down from 103.14 in the previous session.
On Tuesday, the
shilling weakened against the dollar by 0.11 percent to close at
103.14, from 103.03 on Monday.
On the other hand,
during Wednesday’s trading, commercial banks quoted the value of
the shilling against the dollar at a weaker level of between
103.25 and 103.45 as traders attributed the fall to political
uncertainty in the east African nation.
The Supreme Court
ruling, which indicted the electoral commission for flawed
elections, had also unsettled the shilling, analysts noted.
Against the British
pound, the shilling traded at 139.62, a slight gain from 139.89
in the previous trading session.
Observers say Kenya
has enough foreign exchange reserves to cushion it from pressure
from international currencies.
Last week, the
reserves surpassed five months of import cover for the first
time since early August to stand at 7.5 billion dollars.