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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Stocks: Nairobi securities exchange fall to new nine-month low

NAIROBI (Xinhua) -- A bear-run has hit the Nairobi Securities Exchange (NSE) pushing all indicators to the lowest level since the start of the year.

Investors’ wealth at the bourse, measured by market capitalization, ended the week at 24 billion U.S. dollars, losing 213 million dollars on Friday alone, NSE data showed Saturday.

The index has lost 1.05 billion dollars since the start of the month as stock prices fall.

The benchmark NSE 20 Share Index declined by 28.92 points on Friday to stand at 3,099.84 while the All Share Index ended at 163.71.

"All indicators are at their lowest level recorded since January, highlighting a bearish market.

"This can be explained by less favourable financial performance of some listed companies," the Central Bank of Kenya said on Saturday.
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SEE ALSO:

Manufacturers deplore implementation of 16 per cent Fuel Tax

Latest hefty VAT tax hikes put big squeeze on Kenyan Farmers

Depositors face low yields after Kenya MPs vote to change law

Cash-strapped Kenya treasury exceed domestic borrowing target

Investors cut uptake Kenya government Securities as yields fall

Kenya transport brace for tougher times as fuel tax to take effect

Erratic weather shaping 2018 as one of Worst years for farmers

Kenya banks aim to further intensify inter-borrowing to pay taxes

Mobile money charges rise in Kenya after new tax from Sunday

Kenyan trade deficits slightly widens to U.S. $2.76 billion dollars

           

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