Brokers trade on the floor of the Nairobi Securities Exchange. PHOTO | FILE
Kapchorua Tea on Thursday recorded a near-maximum allowable 9.9 per cent fall for the second-straight day at the Nairobi Securities Exchange, weighed down by selling pressure in the wake of its closure of books for a bonus issue earlier this month.
Kapchorua was down Sh18 to close at Sh164 Thursday, following on a decline of Sh20 recorded on Wednesday.
“The Kapchorua counter is seeing some price correction after the recent closure of books on the bonus issue,” said Sterling Capital analyst Eric Munywoki.
Williamson Tea joined Kapchorua in recording the largest active price movement in the market—albeit on low volumes—gaining 5.4 per cent to Sh194.
Slow price movement on the large- and medium-cap counters resulted in a slow day at the market. Safaricom, East Africa Breweries and KCB were unchanged at Sh15.15, Sh265 and Sh38 respectively, while Equity Holdings gained marginally by 25 cents to close at Sh38.
The market looked set to close the week on a flat note, with the indices showing little movement.
The NSE 20 Share Index was up only 3.5 points Thursday to stand at 3763, while the All Share Index (NASI) ended 0.37 points higher to stand at 136.92. The NSE 25 Share Index gained 17.1 points to settle at 3929.
Turnover was also little changed coming in at Sh564.7 million compared to the Sh566.7 million recorded on Thursday.
The bonds market on the other hand has been more active this week, recording trades worth Sh1.5 billion yesterday, Sh2.2 billion on Wednesday and Sh1.2 billion on Tuesday.
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