- Advertisement -

Sudden fall in trading at NSE raises eyebrows

- Advertisement -

Some 10.9 million shares valued at Ksh369 million were traded in 955 deals, down from 30.6 million shares that were valued at Ksh760M posted yesterday. The drop in trading, which piled pressure on the three indices, has left analysts in limbo as most investors kept off the market.

It’s not clear why trade volumes dropped so drastically, but observers point to the unraveling politics around the deportation to Canada of self-declared National Resistance Movement (NRM) Miguna Miguna, which was revoked by the High Court today. The government has appealed the ruling.

The NSE 20 Share Index was down 4.01 points to stand at 3703.28, the All Share Index (NASI) dropped 0.30 points to stand at 178.66, while the NSE 25 Share Index shrank 12.21 points to stand at 4482.81.

The banking sector was the day’s most traded, with shares worth Ksh240 million changing and accounted for 64.95% of the day’s traded value. KCB Group was the day’s biggest mover with 2.7 million shares valued at Ksh126M changing hands at between Ksh45.50 and Ksh45.75. Diamond Trust Bank up 0.47% to Ksh210.00 for 281,000 shares valued at Ksh59M. Equity Group Holdings, down twenty-five cents to Ksh42.75, moved 569,000 shares valued at Ksh24M.

READ: Six easy steps to become as successful as Steve Jobs

The Construction & Allied Sector had shares worth Ksh1.6M transacted and represented 0.44% of the day’s traded value. Crown Paints moved 13,000 shares valued at Ksh1M at a fairly stable price of Ksh82.00.

The Energy & Petroleum Sector had shares worth Ksh18M transacted and represented 4.92% of the day’s traded value. Kenya Power moved 1.9M shares valued at Ksh16M at between Ksh8.30 and Ksh8.50.

The Investment Sector had shares worth Ksh3.8M transacted and represented 1.04% of the day’s traded value. Centum traded 74,000 shares valued at Ksh3.3M at between Ksh45.00 and Ksh45.75.

The Manufacturing & Allied Sector had shares worth Ksh23.5M transacted and represented 6.36% of the day’s traded value. Unga Group, which is a takeover target by American conglomerate Seaboard was up 0.59% to Ksh42.50 moved 405,000 shares worth Ksh17M. EA Breweries unchanged at Ksh249.00 moved 20,000 shares valued at Ksh5M.

Meanwhile, Safaricom actively moved 2.7M shares valued at Ksh78.5M at between Ksh28.75 and  Ksh29.25, representing 21.24% of the day’s traded value.

NEXT: KBC managers put on notice for misuse of funds

- Advertisement -
BT Correspondent
BT Correspondenthttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke
- Advertisement -
Must Read
- Advertisement -
Related News
- Advertisement -


Please enter your comment!
Please enter your name here