Key NSE index falls below 3,000 points

Published on 05/02/2009

By James Anyanzwa

The Nairobi Stock Exchange (NSE) 20-Share Index yesterday fell below 3,000 points, as share prices of a majority of listed firms headed south.

As a result, the value of shareholders’ wealth at the NSE yesterday fell by 1.12 per cent to Sh740.877 billion.

The NSE 20-Share Index plunged by 2.34 per cent, losing 71.3 points to close the day at 2975.12.

In the Commercial and Services Sector, AccessKenya Group Ltd shed Sh0.30, to close at Sh19.70 from Sh20.

Kenya Airways, which issued a profit warning on Monday, expecting its earnings for the year ending March 31, 2009 to fall by at least 25 per cent, had its share price dip by Sh2.25 to Sh23.25 from Sh25.50 registered on Tuesday.

In the Financial and Investment Sector, National Bank of Kenya and Barclays lost Sh1.75 and Sh1.00, to close the day at Sh45.25 and Sh36.

The Cooperative Bank fell Sh0.35 to Sh8.25, from Sh8.60 in the same period.

Counting Losses

The Kenya Commercial Bank (KCB) and Equity Bank lost Sh0.25 and Sh1.00 to Sh18.75 and Sh141.00 from Sh19.00 and Sh142 respectively.

CFC Stanbic Holdings remained fixed at Sh55, while Diamond Trust Bank fell Sh0.5 to Sh66.50.

In the Industrial and Allied sector, East African Breweries Ltd (EABL) and Mumias Sugar Company (MSC) declined by Sh1 and Sh0.3 to close at Sh129 and Sh3.95 respectively.

The market had registered some gains at the beginning of the year, and it was hoped that the momentum would be sustained.

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