Kenyan shares fell for the ninth consecutive day on Friday, with East African Breweries among the losers due to profit-taking. The shilling held steady.
The Nairobi Securities Exchange’s main NSE-20 Share Index fell 0.96 percent or 47.41 points to close at 4,910.10 points, its lowest level since July 31.
East African Breweries continued its slide, falling 7.3 percent to close at 280 shillings a share.
“It’s still the same trend going on in terms of profit-taking on majority of the stocks. Of course there is a short trading week coming up, so we might have seen accelerated activity towards the end of the week,” Silha Rasugu, research analyst at Genghis Capital, said, referring to next week’s Christmas break.
Ian Gachichio, research analyst at Kestrel Capital, said there was less demand in the market as the holidays approached.
On the foreign exchange market, the shilling closed at 90.35/45 to the dollar, from Thursday’s close of 90.40/50.
Traders said the shilling could benefit next week from banks trimming their long dollar positions.
“I am just seeing interbank (players) closing their long dollar positions ahead of the weekend,” Julius Kiriinya, a trader at African Banking Corporation, said.
On the secondary market, government bonds valued at 2.03 billion shillings ($22.46 million) were traded, up from 1.62 billion shillings on Thursday.
………………………Shilling spot rates
…………………Shilling forward rates
…………………..Cross rates
…………………………….Local contributors
…………………..Central Bank of Kenya Index
…………………Kenyan Bonds contributor pages
……………Treasury bill yields
………………Central bank open market operations
…………………….Horizontal repo transactions
,…………….Daily interbank lending rate
………………………..Kenya Bond pricing
………………Real time Africa economic data
<ECI & AFR> ………………………African economic news
……………………………NSE-20 Share Index
……………………………NSE All Share Index
………………………FT NSE Kenya 15 Index
……………………. FT NSE Kenya 25 Index
SPEED GUIDES:
($1 = 90.4000 Kenyan shillings)
Source: reuters
