Market News

Listed lenders’ shares up as National Bank bucks trend

NIC Bank gained a shilling to trade at Sh33. FILE PHOTO | NMG
NIC Bank gained a shilling to trade at Sh33. FILE PHOTO | NMG 

Banks Monday opened the week on a winning streak, continuing a trend charted a few weeks ago as the lenders shook off a slump which attended rate capping late last year.

Troubled National Bank of Kenya (NBK) #ticker:NBK was the only loser as most listed banks chalked up gains that helped lift NSE 20 share index 7.59 points to 3480.78. DTB, which recently took over Habib Bank, was the main winner up Sh4 to Sh147.

KCB #ticker:KCB hit a fresh high at Sh40.75, up 75 cents from Friday as lenders defy the rate controls with better-than-expected quarter one performance. Equity Bank #ticker:EQTY rose 25 cents to Sh39.50 as NIC #ticker:NIC gained a shilling to trade at Sh33.

Stanbic #ticker:CFC managed a 50 cent gain. Barclays Bank #ticker:BBK chalked up 20 cents to hit Sh9.20.

Standard Chartered #ticker:SCBK and Housing Finance #ticker:HFCK stagnated at Friday prices with NBK shedding five cents. However, the bank’s gains were crossed out by Safaricom’s #ticker:SCOM loss of 25 cents at Sh20.25, almost wiping out the lenders’ market cap uptick.