Money Markets
A Nairobi Securities Exchange staff monitors online trading. PHOTO | SALATON NJAU |
NATION MEDIA GROUP
By JOHN GACHIRI
In Summary
- Analysts agreed the price drop was the result of investors cashing in on previous gains.
Centum
share price dropped by nearly 10 per cent to close at Sh65 Thursday as
investors cashed in on recent price surge while others reacted to the
suspension of ......................................
its coal power project.
its coal power project.
Other stocks whose prices rose over the last few weeks fell as investors took profit.
“Both the NSE 20 index and NASI were in the red as
investors continued to cash in on price gains especially on Britam, NSE
and CIC Insurance,” said a market report by Standard Investment Bank.
These shares have touched historic highs over the past few trading sessions.
Overall, the NSE 20 Share Index dropped 73.58 points to close at 5,249.07 points.
Turnover fell to Sh763.9 million from the previous day Sh1.056 billion.
The index has steadily climbed and on Monday touched 5,404 points, a level last seen four years ago.
Analysts agreed the price drop was the result of investors cashing in on previous gains.
“The price declines could be as a result of capital
gains bookings, with the counters having rallied this financial year,
with some having recorded year-to-date gains of more than one fold,”
said a market report by Sterling Capital.
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