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NSE Stock Hits All Time Low

by biasharadigest

The Nairobi Securities Exchange shares were the top losers of the day during Tuesday’s trading. The stock hit an all-time low of KSh 6.50 with 122,300 shares traded. At the end of trading, NSE share shed off 8.33% of its share price to close at Ksh. 6.60. This is compared to Monday’s close of Ksh. 7.20

One week Performance of the stock shows a 16.24% share price depreciation. The NSE stock has depreciated by 15.60% over the last month. A total of 259.5 million NSE shares are listed making up a market capitalization of KSh 1.71 Billion.

In the Financial Year ended 31st December 2019, the NSE’s net earnings dropped by 58% to Ksh 80.1 million compared to 2018’s Ksh 190.7 million. The drop was a result of a 9% decrease in revenues emanating from a 12% decline in equity trading turnover.

The Nairobi Securities Exchange increased its stake in Central Depository & Settlement Corporation Limited to 40.5 percent in two deals valued at Ksh. 111.9 million. This is after the exchange acquired 88.8% in the Association of Kenya Stockbrokers (AKS) Nominees Limited which holds an 18 per cent stake in CDSC.

The bourse also recently appointed Kiprono Kittony as the new chairperson of the board. The company looks to increase listings, through engaging governments to encourage privatization of government-owned companies “I want to focus on expanding listings. For instance, the government has a lot of businesses that can be listed,” said the incoming Chairperson.

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