Bear Market: Nairobi Securities Exchange Halts Trading as NSE 20 Share Index Plunge 5%

Importance Of an Anchor Stock When Investing in the Stock Market

Nairobi Securities Exchange

Stock trading on the Nairobi Securities Exchange (NSE) was suspended on Friday at 2:38 p.m. as the NSE 20 Share Index plunged by more than 5 percent following the Kenya’s first Covid 19 case being confirmed.

“Normal market activity will resume on Monday,” said the NSE in a public notice.

The NSE halts stock trading for 30 minutes if its main gauge falls more than 5 percent.

If the index falls more than 10 percent after the first suspension is lifted, the bourse will halt trading for another 30 minutes, according to Rule 9.4.1 (ii) of the NSE Equity Trading Rules.

 Consequently, the Kenyan Shilling edged down with commercial banks quoting it at 102.80/103.00 per dollar, down from Thursday’s close of 102.40/60.

The country confirmed its first case of the coronavirus through the Minister of Health Mutahi Kagwe on Friday.

The NSE 20 share Index is a price weighted Index calculated as a mean of the top 20 best performing counters.

Banking Sector

1. Barclays Bank of Kenya Ltd
2. Equity Group Holdings Plc
3. KCB Group Plc
4. Diamond Trust Bank Kenya Ltd
5. The Co-operative Bank of Kenya Ltd
6. NIC Group Plc
7. Standard Chartered Bank Kenya Ltd

Commercial & Services Sector

8. WPP Scangroup Plc
9. Kenya Airways Plc
10. Nation Media Group Plc

Construction and Allied Sector

11. Bamburi Cement Ltd

Energy and Petroleum Sector

12. KenGen Co. Plc
13. Kenya Power & Lighting Co Ltd

Insurance Sector

14. Britam Holdings Plc
15. Kenya Re Insurance Corporation Ltd

Investment Sector

16. Centum Investment Co Plc

Investment Services Sector

17. Nairobi Securities Exchange Plc

Manufacturing & Allied Sector

18. East African Breweries Ltd
19. British American Tobacco Kenya Plc

Telecommunication Sector

20. Safaricom Plc