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Nairobi bourse turnover flat as key index rises

NAIROBI (Xinhua) -- Equity turnover at the Nairobi Securities Exchange (NSE) was flat on Thursday as trading remained low amid rise in key index.

Market turnover stood at 2.5 million U.S. dollars from a volume of 8.9 million shares, compared with the previous session’s 8.8 million worth 2.6 million dollars.

Equity Bank, leading telecom Safaricom, Barclays Bank, Kenya Commercial Bank and East African Breweries Ltd accounted for 92 percent of the day’s total turnover.

However, the most traded counters were Equity Bank, Safaricom, Barclays Bank, Eveready East Africa and Housing Finance after moving 3.9 million, 3 million, 800,000, 500,000 and 200,000 shares respectively.

The NSE 20 Share Index was up 10.64 points to close at 3,702.51 points as it reversed a negative trend since the beginning of the week where it started at 3,732.16.

On the other hand, the NSE All share Index (NASI) was down by 0.59 points to close at 160.97 points.

Some of the large stocks that gained Thursday to lift the key 20 Share Index were ARM cement (6.3 percent), Kenya Airways and Sasini (4 percent each).

Foreign participation stood at 57 percent, down from 72 percent, and local participation stood at 43 percent.

At the bond market, turnover went down by 43 percent to stand at 15 million dollars from 27 million dollars.



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