NSE 20 share index closed the Wednesday at 3,376 points, the highest level since August last year, having gained 60 points on the day.
Price gains by large bank stocks Wednesday pushed the Nairobi Securities Exchange (NSE) to a nine-month high, boosting investor wealth by Sh39 billion.
The benchmark NSE 20 share index closed the day at 3,376 points, the highest level since August last year, having gained 60 points on the day. Market capitalisation stood at Sh2.083 trillion.
The three largest banks by capitalisation at the NSE —Equity#ticker:EQTY, KCB #ticker:KCB and Co-operative #ticker:COOP — all closed in the black Wednesday, as did Standard Chartered #ticker:SCBK, Barclays #ticker:BBK and Stanbic #ticker:SCBK.
Equity closed the day 5.6 per cent or Sh2 higher at Sh38 a share, while KCB closed at a new one-year high of Sh39.50, having gained Sh1 or 2.6 per cent.
On Wednesday only three banks closed slightly lower than the previous day.
Stanbic was up by 6.9 per cent, closing at Sh69.50. Gains in bank stocks have fuelled a mini-rally in the main index in recent weeks, as have the stocks of Safaricom #ticker:SCOM and Nation Media Group (NMG) #ticker:NMG.
The telco is up by 9.1 per cent to Sh21 since the beginning of May, while NMG has gained 21.5 per cent to Sh116.
Other notable gainers Wednesday were Unga Limited #ticker:UNGA, which was up by 9.2 per cent to Sh29.75 and Britam #ticker:BRIT, which closed 4.6 per cent higher at Sh11.25 a share.
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