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Shrinking banking stocks sink Nairobi bourse

The sharp drop in share prices of banking stocks pushed the Nairobi Securities Exchange (NSE) to a seven-year low, the capital markets regulator says.

The 11 listed banking stocks made up nearly half the market capitalisation of the Nairobi bourse last year, but have since shrunk to a quarter of the NSE. Last year, the stocks shed Sh40 billion in share value.

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