Market opened on a slow start with volumes dipping 19.18% to 16.40Mn from 20.30Mn. Turnover was KES 309.89Mn, 19.94% lower compared to KES 378.09Mn at the close of last week. Foreign participation remained high at 87.31%.
NSE 20 Share Index lost 3.24 points to stand at 2,945.33 from 2,948.75 points with large contribution from declining banking sector. NSE 25 Share Index was 0.39% lower while NASI and Market capitalization lost 0.22% with the later closing KES 3.93Bn lower.
NSE received a boost on its arm with the introduction of ETF listing. The company, NewGold will list 400,000 gold bullion debentures on the main segment of the NSE. ETF’s operates as a basket of shares that an individual buys shares in.NewGold’s ETF was primarily listed on the Johannesburg Stock Exchange in 2004, and has subsequently had secondary listings on the Botswana Stock Exchange, Stock Exchange of Mauritius, Namibia Stock Exchange and Ghana Stock Exchange. The introduction of the product without much information in the market seems to be a reserve of corporate and high noteworthy clients as there has not been much information to the retail clients. The counter closed 0.40% lower at KES 12.50 from KES 12.55 having lost 14.38% y-t-d.
Kenya Airways bounced bank to settle the day at KES 5.32, an 8.08% improvement in value with 0.16Mn shares exchanging.
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