NSE dips Sh3bn on first day of trading

A trader at the Nairobi Securities Exchange. FILE PHOTO | NMG 

By BRIAN NGUGI

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Summary

• The value of shares stood at Sh2.098 trillion at the close of business Wednesday, down from Sh2.1 trillion on December 31 when the market closed for New Year festivities.
• The value of shares traded fell 63.14 per cent to Sh129.9 million compared to Sh352.6 million on Monday.

Nairobi Securities Exchange (NSE) investors on Wednesday lost Sh3 billion in a gloomy start to the first day of trading of 2019.

The value of shares stood at Sh2.098 trillion at the close of business Wednesday, down from Sh2.1 trillion on December 31 when the market closed for New Year festivities.

The market closed 11.06 points lower at 2822.78 points, weighed down by losses on blue chip counters, which normally attract heavy foreign investor trading.

The number of shares traded fell by 1.9 million to Sh7 million from Sh8.9 million on December 31, a pointer to the reduced activity.

The value of shares traded fell 63.14 per cent to Sh129.9 million compared to Sh352.6 million on Monday.

“For stability to return into our stock markets we will need stability in international markets because foreign participation is high in our markets,” said chief executive of data vendor Rich Management Aly- Khan Satchu Market mover Safaricom

traded 1.7 million shares compared to an average daily trade of nearly 20 million shares in November.

Investors’ paper wealth in NSE-listed companies fell by a staggering Sh419 billion last year to register one of the worst full-year performances in recent memory.