Prime News Kenya

KQ stock descends for 2nd consecutive NSE trading session

Posted By : Justice Bimpeh
Nairobi Securities Exchange
Nairobi Securities Exchange

Kenya Airways (KQ) followed its slide at the previous trading session on the Nairobi Securities Exchange (NSE) by taking a further dip.

Having fallen 6.34% on Wednesday, KQ’s descent continued as it closed at Ksh3.58 on May 9, a 6.7% decline.

The firm which recently reported a Ksh7.5 billion loss had seen its stock price fall 6.34% previously at Ksh3.84 by closing bell on Wednesday.

KQ’s decline was not the highest at the bourse, however, with Wednesday’s top gainer HF Group swapping counters to end 7.94% lower.

Its stock price of Ksh4.06 was 35cents lower than the previous day, where it had bumped up by 8.89%.

NSE market summary

Market turnover meanwhile rose marginally to Ksh319 million, up from 12.7 million shares valued at Ksh306 million posted on May 8.

Indices recorded drops as such:

The NSE 20 share Index was down 3.39 points to stand at 2782.61.
All Share Index (NASI) edged down 0.99 points to stand at 155.38.
The NSE 25 Share index dropped 39.34 points to stand at 3825.85.

In the Banking Sector, shares worth Ksh83.8 million were transacted which accounted for 26.20% of the day’s traded value.

KCB Group moved 607,000 shares valued at Ksh25 million at between Ksh40.75 and Ksh41.40. Co-operative Bank remained unchanged at Ksh12.55, moving 1 million shares worth Ksh13 million.

HF Group moved 2.7 million shares valued at Ksh11 million.

In the Commercial and Services sector had shares worth Ksh7.4 million transacted which accounted for2.34% of the day’s traded value.

Scangroup closed the day 2.52% lower to Ksh17.40, moving 271,000 shares valued at Ksh4.7 million. The Investment Sector had shares worth Ksh12 million transacted which accounted for 3.77% of theday’s traded value.

Centum exchanged 379,000 shares valued at Ksh11.9 million at between Ksh31.10 and Ksh31.85.

In the Manufacturing and Allied Sector, shares worth Ksh59.6 million were transacted which accounted for18.63% of the day’s traded value.

E.A Breweries slipped 1.53% to Ksh209.75 with shares worthKsh56 million transacted. In Telecommunication, Safaricom moved 5.2 million shares valued at Ksh148 million.

Source: Business Today

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