UPDATE 1-Kenya shilling steady, shares falter

Fri Feb 7, 2014 9:46am EST

* Currency market awaits dollar demand
    * Shares to reflect local factors next week

 (Adds shares, closing rate)
    By Duncan Miriri
    NAIROBI, Feb 7 (Reuters) - The Kenyan shilling was
little changed on Friday while the main share index edged down
as it felt the effects of the emerging-market sell-off.
    At the 1300 GMT close of trade, commercial banks posted the
shilling at 86.00/10 per dollar, unchanged from the previous
day's close.
    Market participants said the shilling was likely to be
hemmed into a tight band of 85.80-86.30 until importers started
to order more dollars.
    "There is pretty weak demand and everybody is looking for
lower levels to start putting in their hedges," said a trader
with a leading commercial bank.
    In the stock market, the benchmark NSE-20 share index
 slipped by a quarter of a percentage point to close at
4,831.80 points, mainly because of losses in national carrier
Kenya Airways and telecoms firm Safaricom.
    Shares in both fell by almost a percentage point to close at
11.85 shillings each. Retailer Uchumi Supermarkets 
dropped 1.4 percent to close at 17.75 shillings. 
    Market participants blamed the decline on the recent selloff
in emerging markets. Attention may shift next week to local
factors like corporate earnings, they said.
    "We are expecting it to normalise. The effect of the
emerging-market selloff will have levelled out," said Daniel
Kuyoh, a research analyst at Kingdom Securities.
    In the debt market, bonds worth 1.05 billion shillings were
traded during the session, close to the volume of 1.06 billion
shillings worth of bonds traded in the previous session.      
         
               ...........................Shilling spot rates 
                  .....................Shilling forward rates 
                           .......................Cross rates 
         ..................................Local contributors 
           .......................Central Bank of Kenya Index 
          .....................Kenyan Bonds contributor pages 
                          ...............Treasury bill yields 
        ..................Central bank open market operations 
        .........................Horizontal repo transactions 
         ,       ................Daily interbank lending rate 
              .............................Kenya Bond pricing 
             ..................Real time Africa economic data 
 <ECI & AFR> ...........................African economic news
          .................................NSE-20 Share Index
         .................................NSE All Share Index
             ...........................FT NSE Kenya 15 Index
             .......................... FT NSE Kenya 25 Index
  SPEED GUIDES:
                                    
            
 
 (Editing by George Obulutsa, Larry King)
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