STOCKS

Labour Day hangover as NSE turnover down Sh383 million

Market turnover at the Nairobi Securities Exchange resumed at a 45.5% decline after having taken a break for Labour Day.

Having posted equity turnover of Ksh840 million on April 30, the bourse retreated to Ksh457 million on May 2.

In terms of overall volume, the bourse saw 18 million stocks change hands as against 21 million that had been transacted on the trading floor on Tuesday.

The May Day hangover also affected two counters on the indices tab, as the NSE 20 Share index and the NSE 25 Share Index all endured slumps.

Safaricom firmly regained its top volume share title, moving the most stocks at 7.8 million shares.

The giant telco also saw its stock tick upwards 1.4%, as it traded as high as Ksh30 on Thursday. By closing bell, Safaricom had settled at Ksh29.55.

E.A Breweries were up 1.13% to Ksh224.25 and moved 13,000 shares valued at Ksh3 million.

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Other notable stocks at the bourse include;

Equity Group Holdings which actively moved 2 million shares valued at Ksh84 million at between Ksh40.45 and Ksh42.90.
KCB Group which was down 15cents to Ksh42.25 and moved 1.7 million shares valued at Ksh72 million.
Kenya-Re moved 4 million shares valued at Ksh43 million at a fairly stable price of Ksh10.85.
Scangroup closed the day 4.13% lower to Ksh17.40, moving 180,000 shares valued at Ksh3 million.

At the bond market, bonds worth Ksh1.3 billion were transacted, amounting to a drop of Ksh1.1 billion.