NSE On a Recovery Mode, boosted by Banking Sector

Market reversed the recent slump with the NSE 20 Share index recovering by 62.01 points to close the day at 3,178.83 points. Nairobi All Share Index was up 1.22% while the Market Capitalization gained by 1.21% respectively lifted by trades in the banking sector.

Banking sector index shot up 6.08% with 43.54Million (70.98%) shares trading with KCB and Equity Bank both dominating trading . Cooperative Bank and I&M were up by of 10% each. NBK was the only loser in the Banking sector shedding 0.71% to settle at KES 6.95 from KES 7.00. CFC Bank and KCB confirmed reducing lending rates for both old and new loans to the caped 14.5%.

(Source; Kenyan Wall Street, Sterling Capital, NSE)