Trading opened on Monday 16th March after the market haul on Friday. Stocks in the banking sector continued to fall with Absa and Cooperative bank being the most hit in the early hours of the day. Absa shares fell by as much as 9.48% trading at Ksh. 10.50. Cooperative bank closed at Ksh. 12.80 trading at a low of Ksh. 12.00 during the day.
KCB Group recorded an end of day price depreciation of 5.63% to close at Ksh. 40.25. KCB recorded impressive financial performance in the recently released financials for the year ended 31st December 2019. The bank’s net profit increased from KSh 24 billion in 2018 to KSh 25.2 billion. Directors of KCB Group have recommended a final dividend of KSh 2.50 after paying an interim dividend of KSh 1.00 with Shareholders getting the full dividend of Ksh. 3.50 at the close of business on 27 April.
Kenya Airways recorded an end of day price depreciation of 7.10% to close at Ksh. 1.57. President Uhuru gave the directive to suspend travel into Kenya from countries with reported cases of the coronavirus with Sunday’s directive taking effect in 48 hours to cater for any passengers who may be en route. Kenyan citizens and any foreigners with valid residence permits will be allowed back into the country.
Sanlam Kenya Plc was the biggest gainer of the day with 9.68% share price appreciation to close at Ksh. 15.30 compared to Friday’s Ksh. 13.95.
The NSE All-share Index dropped 1.82 points to close at 131.84 while market capitalization stood at Ksh. 2 Trillion.