Kenya's bourse key index in free fall as large stocks decline

Source: Xinhua| 2017-07-05 01:03:11|Editor: huaxia
Video PlayerClose

by Bedah Mengo

NAIROBI, July 4 (Xinhua) -- Nairobi Securities Exchange (NSE) 20 share index sustained a negative trend Tuesday, falling for the second session in a row as it went down 24 points to hit a new low of 3,560.51 points.

The index fell by a similar margin on Monday following decline in several large stocks. During the session, equity trading was dominated by energy and bank stocks as turnover rose slightly to 4.3 million U.S. dollars from 3.9 million dollars on a volume of 17 million shares.

Safaricom, Kenya's leading telecom, was the day's top mover after trading 6.7 million shares at unchanged price of 0.23 dollars.

On Monday the telecom moved 8.4 million shares. At the second spot was Equity Bank with 2 million shares moved at 0.37 dollars, a slight decline.

Regional oil marketer Kenolkobil followed in the third position with 1.53 million shares traded at 0.13 dollars, a drop of 1.4 percent.

Kenya Commercial Bank went up slightly trading at 0.38 dollars and moving 1.46 million shares to clock the fourth position.

Ugandan electricity distributor Umeme moved 1.1 million shares at 0.13 dollars to close the list of top five movers.

At the bond segment, turnover declined 33 percent to end the day at 18 million dollars. Enditem