NSE 25 drops 3.14% as NCBA profit rises 9% and BAT flags KES12 bln risk

The NSE 25 closed at 5,645.63 on May 28, down 3.1427%, marking a decline of more than 3%. NCBA Group posted first-quarter profit after tax of KES5.96 billion, up 9% according to The Kenyan Wallstreet, with TechTrendsKE reporting KES6 billion. BAT Kenya said a proposed tobacco bill could cost the Treasury KES12 billion a year, according to capitalfm.co.ke and Kahawatungu, while keeping the impact conditional. On the corporate side, AD HOC NEWS said BAT Kenya shares were supported by an earnings rebound and dividend, while the NSE said on May 28 it appointed Sterling Capital Limited as a market maker in the NEXT Derivatives Market.