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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

East African business council calls for level playing field

NAIROBI (Xinhua) -- Equity turnover at the Nairobi Securities Exchange (NSE) doubled on Tuesday as foreign investors sustained sales.

Turnover rose to 11 million U.S. dollars, a 104 percent rise, on a volume of 46 million shares, from the previous session’s 5.4 million dollars from 15 million shares.

Safaricom, Equity Bank, Cooperative Bank, Kenya Commercial Bank (KCB) and Diamond Trust Bank accounted for 95.3 percent of the day’s total turnover.

However, the most traded counters were Safaricom, Equity Bank, Cooperative Bank, KCB and Home Afrika moving 35 million, 3 million, 2.2 million, 800,000 and 800,000 shares respectively.

Foreign investors’ participation stood at 68.4 percent compared to Monday’s 60 percent, with the traders accounting for 53 percent of total buying and 84 percent of total selling.

The traders mainly went for Safaricom, selling the stock more than they bought, as it traded at 0.24 dollars.

Equity Bank recorded the highest net foreign inflows, unchanged in Wednesday’s session to close at 0.40 dollars.

The NSE 20 Share Index was down 9.13 points to close at 3,788.84 points, reversing gains made in the past week, while the NSE All share Index (NASI) was down by 1.75 points to close at 161.34 points.

At the bond market, turnover stood at 16 million dollars up from 5 million dollars in the previous session.

             

 

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