Trading at the Nairobi Securities Exchange (NSE) rebounded on Tuesday with the value of shares traded rising five-fold from the previous session as investors trooped back to the banking counters.
Shares worth Sh570 million were traded Tuesday compared to a turnover of Sh110 million recorded on Friday.
There were 23.2 million shares traded, nearly half of which were from the banking counters.
Telecoms giant Safaricom share price dropped below the Sh19 mark for the first time in three months continuing a southward trend witnessed in the last week. The telco was the largest mover with 7,989,400 shares trading at an average price of Sh18.90.
Beer-maker East African Breweries Ltd traded shares worth Sh118 million to become the second largest mover of the day.
Investors flocked back to the banking counter with 11.4 million shares traded compared to less than 500,000 on Friday. Most of the banks were on the losing side with Co-operative and Stanbic being the only gainers among 11 listed lenders.
Co-operative traded at an average of Sh13.60 up from Sh13.35 with 4.3 million shares traded.
Equity moved 4.5 million shares with the price remaining flat at Sh30 each.
Housing Finance, which has been accused in court by one of its former senior employees of cooking its books, saw its share price drop marginally to Sh12.55 from the previous Sh12.90.
The employee has accused the lender of understating its non-performing loans by Sh4 billion, which has the impact of inflating its profit level.
