The Nairobi Securities Exchange benchmark ‘NSE 20 Share Index” on Wednesday slipped by 1.17% downwards to close at 3,047 points- levels last seen in September 2009.
The drop was mainly caused by a 5.56% and 4.15% declines in BAT and Britam respectively while the All Share Index also fell by 1.15% with only 5 counters gaining of all the listed firms.
Market Cap closed at Sh 1.8 Trillion having lost about Sh 100Billion (-5.2%) since the beginning of the year driven by a continuous decline in large caps including Safaricom which traded at a six month low of Sh 17.95 on Wednesday.
The Banking Sector has also not had a good run since the beginning of 2017 with Equity Bank having declined by nearly 11% to close at Sh26.75 on Wednesday.
