Investor wealth at the Nairobi Securities Exchange fell by Sh23.8 billion last week as some banks and industrial blue chips retreated in price.
NSE data on Friday showed that market capitalisation — the measure of investor wealth — stood at Sh2.556 trillion, compared to Sh2.58 trillion at the beginning of the week.
Analysts said that having released their results the previous week, major bank stocks such as Equity #ticker:EQTY, KCB #ticker:KCB and Co-operative #ticker:COOP were trading with a downward price bias.
KCB and Cooperative saw their share prices fall by Sh1.50 and Sh0.50 respectively to end the week at Sh48 and Sh16.60, while Equity was unchanged at Sh50 per share.
EABL #ticker:EABL also retreated in price during the week from Sh212 to Sh205, while Safaricom #ticker:SCOM was stable at Sh29 a share.
The benchmark SE 20 share index fell by 40 points or 1.2 per cent to end the week at 3296 points.