Bear run at NSE pushes top counter to new low

NSE chief executive Geoffrey Odundo monitors the daily tradings at the NSE headquarter on August 22 / ENOS TEC Top share index-NSE 20 that tracks blue chip companies at the Nairobi bourse sank to a new decade low of 2575.73, sliding out of 2600 bracket second time in a week.

The drop in the index, which shed 10.95 points during Monday’s trading, comes amid a continued decline in large cap stocks.

On Friday, the wealthiest index closed at 2619.03 having shed 1.69 per cent compared to the previous week.

The bear run at NSE has affected the other indices with the All Share Index NASI shedding 0.23 points on Monday to stand at 148.10.The NSE 25 Share index lost 13.06 points to settle at 3568.75.

The bourse opened the week with a total of 5.5 million shares valued at Sh209 million against 7.7 million shares, valued at Sh150 million posted on Friday.

The banking sector had shares worth Sh107 million transacted which accounted for 51.08 per cent of the day’s traded value.

Equity Group Holdings was the day’s biggest mover with 1.6 million shares valued at Sh66.6 million changing hands at between Sh40.00 and Sh40.50.

KCB Group closed the day 1.25 per cent lower to Sh39.50 moving 958,000 shares valued at Sh37.8 million.Barclays Bank moved 102,000 shares worth Sh1 million and closed at Sh10.70.

The investment sector had shares worth 1.2 million traded and accounted for 0.59 per cent of the day’s traded value.

Centum moved 37,000 shares valued at Sh1.2 million at a fairly stable price of Sh32.45.

On the other hand, the manufacturing and allied sector had shares worth 53.8 million traded and accounted for 25.69 per cent of the day’s traded value.E.A Breweries moved 259,000 shares valued at Sh52.8 million at between Sh200.00 and Sh203.75.Safaricom continued as a top mover with 1.6 million shares valued at Sh44.6 million transacted at between Sh27.50 and Sh27.65.IN the derivatives market, four contracts in Safaricom and KCB worth Sh163,000 expiring in September and December 2019 were concluded at a price of Sh28.10 and Sh40.05 respectively.This is against a price of Sh27.60 posted in the spot market for Safaricon. The Bond market had bonds worth Sh1.5 billion transacted.

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