A system fault that delayed trading at the Nairobi Securities Exchange (NSE) on October 1 led to one of the shortest trading periods at the bourse even as investors stayed away leading to a Ksh515 million decline.

NSE attributed the delay to technical challenges experienced in a a dependent system of the Automated Trading System (ATS) as the reason why trading at the bourse on Monday morning did not begin at 9am as per the custom.

“The technical teams are currently working to resolve the issue for trading to commence. The market shall be advised on the revised trading timings as soon as possible,” the NSE had told investors in a statement.

The bourse later on revised trading hours to between 1.20pm. and 4.30pm, halving the usual trading period which usually runs from 9am to 3pm.

Investors seemed to shy away as trading plunged Ksh515 million as against the previous trading session.

The bourse posted Ksh130 million as against the Ksh645 million that was registered on September 28. Volumes of shares also plunged, with 5.5 million shares traded on Monday while 18 million shares had changed hands the previous Friday.

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While the All Share Index (NASI) and the NSE 25 Share Index also dropped, the NSE 20 Share Index was up 8.47 points to stand at 2883.98.

NASI  shed 0.69 points to settle at 148.98 and the NSE 25 Share Index as down 6.87 points to stand at 3812.28.

Sectors Wrap

The Banking Sector had shares worth Ksh51.5 million transacted which accounted for 39.50% of the day’s traded value. Equity Group Holdings moved 813,000 shares valued at Ksh32 million at between Ksh39.75 and Ksh40. Diamond Trust Bank was down 2.30% to Ksh170 and moved 89,000 shares valued at Ksh15.2 million. KCB Group shares climbed by 1.25% to Ksh40.50 and moved 31,000 shares worth Ksh1.3 million.

The Energy & Petroleum Sector had shares worth Ksh5 million traded & accounted for 3.89% of the day’s turnover. Kenya Power & Lighting exchanged 723,000 shares valued at Ksh3.3 million at between Ksh4.55 and Ksh4.80. KenolKobil moved 91,000 shares worth Ksh1.5 million and closed at Ksh16.

The Insurance Sector had shares worth Ksh1.3 million transacted which represented 1.02% of the day’s traded value. CIC Insurance moved 173,000 shares valued at Ksh732,000 at a fairly stable price of Ksh4.20. Britam Holdings down twenty cents to Ksh10.60 and moved 40,000 shares worth Ksh427, 000.

The Manufacturing Sector had shares worth Ksh625,000 transacted which represented 0.48% of the day’s traded value. East African Breweries closed 3.24% higher to Ksh191.00 moving 1,900 shares valued at Ksh363,000.

In Telecommunication, Safaricom had 2.9 million shares valued at Ksh69.97 million transacted at between Ksh24 and Ksh25. This represented 53.65% of the day’s traded value.

The Bond Market registered reduced activity with bonds worth Ksh2.5 billion transacted against Ksh3.5 billion posted the previous session.

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