Kenya stock market loses momentum

Nairobi Securities Exchange (NSE) slowed down, losing momentum built last week as turnover and the benchmark 20 Share Index declined.

The NSE 20 Share Index dropped 4 points to end the day at 3,438.20, down from 3,442.38 during Friday’s session.

On the other hand, some 19.4 million shares worth 4.9 million U.S. dollars were traded down from 24 million worth 5.7 million dollars in the last session.

Regional oil marketer KenolKobil was the top traded stock after moving 5.5 million shares at unchanged price of 0.12 dollars.

At the second position was Safarcom, which was supplanted from the top spot for the second trading session in a row, after moving 3.6 million shares down from 5.9 million shares at a high of 0.21 dollars, a rise of 0.75 percent.

Kenya Commercial Bank traded 2.6 million shares at 0.17 dollars to end at the third position while Mumias Sugar came fourth with 1.7 million shares. At number five was Kenya Airways with 1.3 million shares.

Monday, only five stocks in the top 20 shares went up, with foreign investors cutting trading to 54 percent, with most of the shares they traded being buys.

At the secondary market, bonds worth 33 million dollars were traded, a rise from 17 million dollars posted on the previous session.