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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 
Nairobi bourse turnover rises on foreign sales of Safaricom shares

NAIROBI (Xinhua) -- Turnover at the Nairobi Securities Exchange (NSE) went up marginally on Monday trading amid decline in the benchmark index pushed down by Safaricom.

The leading telecom firm, the largest company by market capitalization at the bourse, declined by 2 percent to trade at 0.24 U.S. dollars as a boycott by opposition supporters of its products started to bite.

Opposition National Super Alliance (NASA) last Friday accused Safaricom and two other companies of working with the government to defeat electoral justice and asked its supporters to boycott the telecom firm.

The drop of Safaricom, whose trade mainly involved foreign sales, and nine other companies pushed the NSE 20 Share Index down 2.5 points to 3,797.96.

Other top losers included Cooperative Bank, Kenya Airways, Nation Media Group and Bamburi Cement.

Similarly, the NSE All Share Index (NASI) declined to close at 163.09 from 164.50 points while the NSE 25 Share Index settled at 3,797.96, from 4,302.61.

Turnover, however, rose to 5.4 million dollars on a volume of 15 million shares, from 18 million worth 3.5 million dollars.

Safaricom, KenolKobil, Kenya Commercial Bank (KCB), Equity Bank and Kenya Airways were the top movers, trading 5.6 million, 2.2 million, 1.7 million, 1.6 million and 1.1 million shares respectively.

           

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