NSE falls as NCBA and banks drive Nairobi headlines
The NSE 20 fell 1.681% to 3,503.52 and the NSE 25 lost 1.084% to 5,606.54 on May 4, with financial stocks dominating the session's narrative. NCBA reported net revenue after provisions, while its valuation rose to KSh150 billion amid acquisition talks, according to TradingView and FXLeaders. Absa Bank Kenya joined the MSCI index, according to FXLeaders, as the Nairobi Securities Exchange on May 4 launched a banking sector index and announced steps to widen retail investor access, according to its statements. Co-op Bank Kenya split into a holding company and is eyeing East Africa, reports News Ghana, while BAT Kenya faces a leadership change after a record dividend payout, according to FXLeaders.
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