NAIROBI (Xinhua) --
Kenya’s Nairobi Securities
Exchange (NSE) benchmark index took a negative turn Wednesday,
dropping 3 points to close at 2,970.98 as the market was pulled
down by decline in large stocks.
Bank, Kenya Commercial Bank (KCB) and Barclays Bank were some of
the top stocks whose share prices declined.
telecommunication company Safaricom, which traded 38 million
shares and surged 5.2 percent Tuesday, went down 2.7 percent as
it moved 7 million shares.
Mumias Sugar was the
day’s second best traded stock after moving 2.1 million shares
at unchanged price of 0.01 dollars.
KCB came in third
after going down 0.8 percent to trade at 0.29 dollars and move
1.9 million shares. The share has been on a rally following the
bank’s declaration of profit last week but the drop signals it
had reached its peak.
Kenya Airways and
Kengen closed the list of best five day’s performers as they
moved 1.4 million and 1.2 million shares respectively at 0.05
dollars and 0.06 dollars respectively.
significantly Wednesday from a high of 67 million shares worth
17 million dollars.
The All Share Index
(NASI) and the NSE 25 Share Index similarly went down, reversing
gains made since the start of the week.
eases on high dollar demand
NAIROBI (Xinhua) --
The Kenya shilling lost ground against the U.S.
dollar on Wednesday to close the day at a low of 102.8, data
from Central Bank showed.
The local unit had
started Monday on strong footing at 102.5 against the dollar but
eased, with analysts attributing the fall to a surge in dollar
demand from oil and general goods importers.
On Tuesday, the
currency fell 0.05 percent to close at 102.67, according to the
apex bank. The decline was a continuation from Monday where the
shilling had slide by the same margin.
It is not only
against the dollar that the shilling is losing ground. The
Kenyan currency has declined against the British Pound, going
down 0.07 percent on Monday to stand at 124.97 and on Tuesday by
0.49 percent to close the day at 125.56.
shilling stood at an average of 125 after levelling against the
British Pound, with analysts expecting further decline of the
currency albeit slowly.
Last week, the Kenya
shilling had been on a rally following increased inflows from
foreign investors seeking to trade in government securities.
analysts at Stratlink Africa, Kenya’s Central Bank may tighten
monetary policy a little when it meets end of this month to
prevent further volatility on the shilling and counter the
looming rise in the U.S. Federal Reserve rate.
Nairobi bourse turnover hits new high of
17 mln USD
Nairobi bourse turnover hits new high