Markets
Kenyan Stock Market Takes a Dive on First Corona Virus Confirmed Case
After the NSE All-Share Index plunged by more than 5%, trading at the Nairobi Securities Exchange was halted on Friday, March 13, 2020. This followed the announcement of the first positive coronavirus case in Kenya.
All-time lows have been hit by Kenyan stocks with some exhibiting no demand. From Wednesday’s low of KSh 2.10, KPLC hit a new low of KSh1.90.
An all-time low of KSh 4.70 was reached by electricity company KenGen. British American Tobacco (BAT) Kenya closed at Ksh. 466 on Wednesday 11th March. The BAT dropped below
Kenyan stocks hit all-time lows with some showing no demand. KPLC hit a new low of Ksh. 1.90 from Wednesday’s low of KSh2.10. Ksh. 400 to Ksh 395.50.
On Thursday 12th March, Safaricom stocks closed at Ksh. 27.85. Safaricom stocks went down by 6.6% to KSh 24.05.
Cooperative Bank reached the maximum allowable decline in the price of a stock (Limit Down) having closed at Ksh. 14.60 on Thursday, hitting lows that go down to KSh 12.90. Both Absa and Cooperative saw no demand. Equity Group traded at KSh 4.10 after shedding 9.09% of its share price. NCBA traded at Ksh 3.20 after shedding 9.94% of its share price.
