THE MOST FROM THE COAST !

..


 Coastweek website


XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenya bourse indices dip on first 2019 trading as key stocks fall

NAIROBI (Xinhua) -- The key indices of the Nairobi Securities Exchange (NSE) dipped on the first day of trading in 2019, an indication that investors may continue to choke up losses this year.

The NSE 20 Share Index fell 11.06 points to close at 2,822.78 on Wednesday as key stocks like Equity Bank, KenolKobil and Kenya Airways declined, while the NSE All Share Index declined to 140.20 from 140.43 on Monday.

Wednesday's turnover declined to 129 million Kenyan shillings (1.28 million U.S. dollars), down from 3.5 million dollars in the Monday session, according to the NSE.

Market capitalization, which measures shareholders' wealth, fell to 20.7 billion dollars on Wednesday from 20.8 billion dollars on Monday.

Kenyan stock market took a beating in 2018, with most investors reaping losses as securities ended the year lower than they started in January, pulling down key indices with investors' wealth declining by 4.1 billion dollars.

However, investment analysts are optimistic that the market would claw back some of its lost ground this year as some blue-chips stocks will recover.
.

UPDATE:

Kenyan shilling firms against dollar on first 2019 trading

NAIROBI (Xinhua) -- The Kenyan shilling held firm against the U.S. dollar on Wednesday, the first day of trading in 2019, supported by low demand for the greenback.

The shilling traded to the dollar at 101.83 on Wednesday, compared to Monday's close of 101.84, according to the Central Bank of Kenya (CBK).

Analysts attributed the stability to low dollar demand as oil and retail importers will resume activities after the holiday break.

The local unit is expected to remain stable against the greenback backed by CBK's foreign exchange reserves as well as regulators' activities in the money market, analysts noted.

Official data showed that the Kenyan shilling ended 2018 1.4 percent higher against the dollar.

Remember: you read it first at coastweek.com !


Voyager Beach Resort banner | Coastweek

 

TO ADVERTISE ON THIS WEB SITE:  www.coastweek.com
Please contact

MOMBASA - GULSHAN JIVRAJ, Mobile: 0722 775164 Tel: (+254) (41) 2230130 /
Wireless: 020 3549187 e-mail: info@coastweek.com

NAIROBI - ANJUM H. ASODIA, Mobile: 0733 775446 Tel: (+254) (020) 3744459
e-mail: anjum@asodia.co.ke

 
    © Coastweek Newspapers Limited               Tel: (+254) (41) 2230130  |  Wireless: 020 3549187  |  E-mail: info@coastweek.com