Capital Markets

NSE 20 index edges toward 3,000 point barrier

nse

An investor monitors trade at the NSE. PHOTO | FILE

Summary

  • On Thursday, the NSE closed at 3,014 points, which is the lowest it has gone since October 16, 2009.

The NSE 20 share index slid further towards the 3,000 point psychological mark on shedding 33 points in trading on Thursday.

The bourse closed at 3,014 points, which is the lowest it has gone since October 16, 2009. Market capitalisation stood at Sh1.806 trillion on Thursday, having declined by Sh15 billion compared to Wednesday.

EABL continued with its negative start to the year, sliding by 2.2 per cent to a four-and-a-half-year low of Sh218.

Although recording a drop in the share of trades, foreigners still dominated the market, with a net inflow position of Sh105 million.

“The market witnessed a decline in foreign activity, at 73.1 per cent from 86.6 per cent on Wednesday, with total volumes dropping by 30.2 per cent to 18.66 million from 26.75 million. Turnover was 45 per cent lower at Sh318.74 million,” said Sterling Capital in a daily market report.

Safaricom, which accounted for 73 per cent of the daily turnover at Sh231.6 million, closed the day lower by 0.3 per cent at Sh17.95 a share.

Equity Bank and KCB were both down 1.9 per cent for the day at Sh26.25 and Sh26.50 a share respectively.

The gain side was thinly populated, with only 12 counters recording an increase in share price by close of trading. The top gainers were Express Kenya, up 6.5 per cent to Sh3.30 and Sasini, up 2.8 per cent to Sh20.