NSE 20 Share Index down 20 points, hits five-year low

The NSE 20 Share Index shed a further 20 points in yesterday’s trading, keeping the market at a five-year low heading into the festive season.

The market closed at 3,084 points, the lowest level since December 7, 2011, losing ground for the 12th straight session.

Representative stocks on the index opened the week on a mixed note as those gaining were cancelled out by losing counters, with Sasini recording the most significant drop.

“The drop was influence by a 4.5 per cent decline in Sasini. Of the index representative counters, 10 remained in the red as only five turned green. The index remains 23.03 per cent down on a year-to-date basis,” said Sterling Capital in a market brief.

Cooperative Bank was down 30 cents to Sh13.20 and Barclays Kenya by 10 cents to Sh8.40, while KCB and Equity Bank closed the day unchanged at Sh28.25 and Sh30 respectively. EABL and Bamburi also closed lower by Sh2 and Sh1 at Sh235 and Sh154 respectively.

Of the 10 largest companies at the bourse, only Safaricom, up by 25 cents to Sh19, Standard Chartered, up by Sh3 to Sh188 and BAT Kenya, up by Sh2 to Sh842, ended the day on a positive note.

The gain by Safaricom boosted market capitalisation of the bourse by Sh4 billion to Sh1.898 trillion although equity turnover fell to Sh312.6 million from the Sh398.2 million recorded on Friday.