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Investors’ Wealth at the Bourse Drops by 95 Billion Shillings

BY Juma · June 5, 2018 06:06 am

The month of May seems to have been a tough one for the Nairobi Securities Exchange (NSE) after it emerged that investor wealth dropped by 95 Billion shillings during the month.

According to a statement from the stock exchange, the total traded turnover closed the month at 18.4 billion shillings, an increase from 15.1 billion shillings the previous month.

During the month, foreign investors at the NSE embarked of selloffs other than buying with a total of 4 billion shillings being sold in May. At the same time, the NSE 20 dropped by 10.8 percent while the All-Share Index dipped by 3.9 percent.

The drop at the NSE has been attributed to the loss in large counters that were dominated by commercial banks.

East Africa Breweries Limited (EABL) lost 6 percent during the month, Equity Bank went down by 4.1 percent while Kenya Commercial Bank shed off 8.0 percent. Corporative Bank let go 8.4 percent during the month, Standard Chartered Bank was down by 3.3 percent while Barclays Bank, topped the list of those who lost with 10.9 percent.

Most banks saw a fall in their share price between 3 and 12 percent following the closure of their books. Already, 9 out of the 12 lenders listed at the NSE have closed their books with Stanbic Bank being the only one remaining and the only one that realized an increase in share price by 6.1 percent.

 

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. (020) 528 0222 or Email: info@sokodirectory.com

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