NAIROBI, June 19 (Xinhua) -- A considerable drop in the share price of Safaricom pushed down the Nairobi Securities Exchange (NSE) key index, reversing gains recorded Monday.

The NSE 20 Share Index declined 25.50 points to end the session at 3,348.05, down from 3,373.55 in the previous session. On Monday, the index had risen 23.89 points.

Safaricom during the Tuesday session went down by 4.2 percent to close the day at 0.27 U.S. dollars from 0.29 dollars.

Safaricom, Kenya's leading telecom, has the largest capitalization at the market. Therefore, any slight change of its price affects the bourse.

Other stocks that declined were Sasini (4.3 percent), Nation Media Group (1 percent) and British America Tobacco (0.9 percent).

The telecom was the most traded stock on Tuesday, moving 6 million shares, followed by Equity Bank 3.9 million shares, Kenya Commercial Bank 2 million shares and Housing Finance 1.1 million shares.

Some 17 million shares worth 7.2 million dollars were traded at the bourse on Tuesday, from 9 million shares worth 1 million dollars in the previous session. Enditem

Related

Go to Forum >>0 Comment(s)