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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Low trading at Nairobi bourse as foreigners stay away

NAIROBI (Xinhua) -- Nairobi Securities Exchange (NSE) performed poorly on Monday as turnover remained low, with foreign investors keeping off the market.

The foreigners’ participation in Monday’s session stood at 36 percent, down from 43 percent on Friday.

A total of 11 million shares worth 2.5 million U.S. dollars were traded, a slight rise from 10 million valued at 2.1 million dollars in previous session.

Safaricom, Equity Bank, Kenya Commercial Bank, I&M Bank and Britam accounted for 89 percent of the day’s total turnover.

The most traded counters were Safaricom, Kenya Airways, Kenya Power, Home Afrika and Britam moving 6.9 million, 500,000, 400,000, 400,000 and 300,0000 shares respectively.

Safaricom’s trading represented 70 percent of the day’s traded value, with the sector followed by the banking sector which accounted for 1 percent of the total turnover.

The NSE 20 Share Index was down 14.09 points to close at 3,750.35 points while the NSE All Share Index (NASI) was down by 0.19 points to close at 165.72 points. The NSE 25 Share Index was down 4.42 points to stand at 4335.54.

The bond market had securities worth 20 million dollars transacted, a slight decline from 22 million dollars moved in previous session.

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