NAIROBI (Xinhua) --
The Nairobi Securities Exchange’s (NSE)
indicative index on Tuesday picked up gains boosted by rise in
share prices of selected large stocks.
The NSE 20 Share
Index rose 6.48 points to settle at 3,280.46 from 3,273.98. The
stocks that recorded gains to lift the index included Athi River
Mining (9.8 percent), Scangroup (8.4 percent) and Kenya Airways
Some 15 million
shares were traded during the session down from a total of 41
million shares valued at 6.8 million U.S. dollars on Monday.
Safaricom was the
day’s biggest mover with 3.75 million shares down from 9.5
million shares in the last session as the price declined to 0.28
Other top movers
were Kenya Commercial Bank (2.5 million shares), Scangroup (2
million), Barclays Bank (1.6 million) and Athi River Mining (1.5
slows down in Q2 after large stocks lose
NAIROBI, (Xinhua) --
The Nairobi Securities Exchange (NSE) recorded a decline in the
second quarter of the year following drop in share prices of
The equities market
dropped 8.8 percent from a bullish run of 10.6 percent in the
first quarter, NSE revealed in its data released on Monday.
The decline in share
prices was mainly in the banking sector stocks due to various
banks closing their books for dividends and counters beginning
to trade ex-dividend.
capitalization stocks in the sector that declined included
Equity Bank, Kenya Commercial Bank, Cooperative Bank and Diamond
Trust Bank, which went down 14.4 percent, 11.9 percent, 10.7
percent and 9.1 percent respectively.
A majority of
foreign investors during the period held net-selling positions,
exiting the market at expensive valuations, as the rally had
brought the market above its historical earnings average.
In the three months,
the markets’ indices recorded mixed performance, with the NSE 20
Share Index recording a negative turn.