NSE index surges past 3,600 mark to hit 11-month high

The Nairobi Securities Exchange (NSE) #ticker:NSE Wednesday continued on a gradual recovery with the NSE 20-Share Index hitting an 11-month high, surpassing the 3,600 point.

The index rose 8.14 points to stand at 3608.15 points.

Among the winners on Tuesday included bank stocks that have been on a quick recovery to recoup losses incurred after the rate caps.

Barclays #ticker:BBK hit a fresh high of Sh10 while Equity Bank #ticker:EQTY rose 25 cents to Sh38.50.

Losing streak

KCB Group,#ticker:KCB — which has been on a losing streak since the announcement that it intends to swallow troubled State-owned lender National Bank — gained 50 cents to Sh37.50.

National Bank, #ticker:NBK however, still gained 20 cents to Sh11.30.

Other gainers were Mumias Sugar Company #ticker:MSC that went up 8.33 per cent to Sh1.30, Pan African Insurance #ticker:PAFR up 7.41 per cent and Eveready #ticker:EVRD which rose 6.25 per cent to Sh2.55.

Sameer, #ticker:FIRE BOC #ticker:BOC and TPS Serena #ticker:TPSE were on a losing streak.

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