NAIROBI (Xinhua) --
Investors’ wealth at the Nairobi Securities
Exchange (NSE) declined 5 percent in one week following drop in
prices of various stocks.
capitalization, which measures shareholders’ wealth, went down
by nearly 100 million dollars to 26.95 billion dollars on Friday
last week from 27.94 billion dollars at start of the week pulled
down by a bear-run, data from the market showed on Monday.
The biggest decline
of the index was recorded on Thursday when the bourse forfeited
17.9 million dollars to end at 27.05 billion dollars.
Decline in stock
prices have been recorded across the board but mainly on
counters in the energy and petroleum, telecommunications and
technology and construction and allied sectors.
Some of the stocks
whose prices have gone down include Safaricom, Nation Media
Group, Kengen, Athi River Mining and Kenya Airways.
capitalization hit a peak of 28.89 billion dollars early April
but has been on a downward trend since, with stock brokers
attributing the current decline to correction of share prices.
who account for the bulk of the trading at the market, have
mainly been sellers during the period, disposing Safaricom and
bank stocks, mainly Kenya Commercial Bank and Equity Bank.
benchmark index halts decline as stocks recover
NAIROBI, (Xinhua) --
The Nairobi Securities Exchange (NSE) benchmark
index gained marginally on Monday reversing a negative trend
recorded in the last six sessions.
The NSE 20 Share
Index rose 6.04 points on Monday to 3,716.36 points, up from
3,710.32 at the end of last week. Market capitalization
similarly will take an upward turn.
Some of the stocks
whose prices rose to lift the index on Monday were Athi River
Cement (8.9 percent), Kenya Commercial Bank (KCB) (1.9 percent),
Sasini (2 percent), and Scangroup (1.8 percent).
However, the All
Share Index (NASI) closed Monday at 180.67 points, down from
182.75, as it continued with a downward trend. Similarly, the
NSE 25 Share Index fell to 4,709.90, down from 4,771.82.
declined to close Monday at 20 million shares worth 6 million
U.S. dollars, down from 22 million shares from 7.5 million
dollars on Friday last week.
stocks during the session were Safaricom, moving 13 million
shares; KCB, 2.12 million; Equity Bank, 1 million; Mumias Sugar,
788,400; and NSE, 513,400.