This archive report was first published on 13 November 2019.
On November 13, 2019, Equity Group Holdings Plc became the first listed bank to release its third quarter earnings, sparking renewed interest in banking counters at the Nairobi Securities Exchange (NSE).
During the trading session, Equity Group Holdings actively moved 3 million shares valued at Sh 146.9 million at between Sh 46.50 and Sh 48.95 per share.
According to the NSE, while the results announced were marginally below their expectations, they take note of management guidance of strong loan growth in the coming quarter.
Other big commercial banks, including KCB and Co-op, are expected to announce their earnings soon. KCB Group moved 2.8 million shares valued at Sh142.9 million and closed at Sh.49.30.
Market turnover rose to Sh857 million from the previous session’s Sh.664 million, with the number of shares traded standing at 29 million against 14 million posted on Monday.
The NSE 20 share Index was down 25.21 points to stand at 2672.36, while the All Share Index NASI dropped 1.94 points to stand at 157.02.
The Banking Sector had shares worth Sh 306 million transacted, accounting for 35.74% of the day’s traded value.
Safaricom was the day’s biggest mover, with 15 million shares valued at Sh 439 million changing hands at between Sh28.65 and Sh29.85, representing 51.21% of the day’s traded value.
