Kenya Airways rebounds at Nairobi bourse to new high

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Kenya’s national carrier Kenya Airways hit a new high of 0.07 U.S. dollars Tuesday at the Nairobi Securities Exchange (NSE) as it sustained its rebound, topping the list of shares that attracted inflows.  

The price is a fresh high this year for the stock that gained 10 percent Tuesday and traded 1.5 million shares.

The new swell, according to analysts, followed the calling of a pilots’ strike as the government and management initiated talks to resolve the stalemate.

Equity Bank, however, was the top mover, trading 5.8 million shares at 0.31 dollars, aiding the banking sector to trade 7.3 million shares that represented 55 percent of the day’s traded volume.

Kenya’s leading telecom Safaricom was the second best mover, trading 1.5 million shares at 0.20 dollars, and as Equity Bank, mainly outflows.

The construction sector traded 2.3 million shares that represented 16 percent of the day’s traded volume, while the commercial category moved 1.8 million shares.

Some 13 million shares worth 3 million dollars were traded at the marker Tuesday as turnover declined 33 percent, pushed down by fall of prices of seven stocks while six others remained unchanged. On Monday, the bourse had transacted 10 million shares worth 4.4 million dollars.

The NSE 20 Share Index was down 10.50 points to stand at 3,203.99, the All Share Index shed 0.17 points to settle at 136.64 while the NSE 25 Share Index was down 5.59 points to stand at 3,605.86.

The bond market witnessed an upswing of activity with securities worth 27 million dollars transacted compared to 2.6 million dollars registered the previous session.

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