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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Foreigners lift Nairobi bourse trading amid dropping key index   

NAIROBI, (Xinhua) -- Turnover at the Nairobi Securities Exchange (NSE) rose 55 percent on Monday on improved foreign trading, with the foreigners buying as much as they sold.

However, the benchmark NSE 20 Share Index declined 5 points as it sustained a negative trend from last week to close Monday at 3,746.69. Only two stocks that make the index went up with the rest falling or remaining unchanged.

Foreign participation during the session increased to 81 percent from 40 percent as local participation declined to 19 percent. The foreigners mainly traded Safaricom, buying as much as they sold.

A total of 31 million shares worth 8 million dollars were traded during the session from the previous session’s 17 million worth 5.1 million dollars.

The most traded counters were Safaricom, Kenya Commercial Bank, Equity Bank, Cooperative Bank and Kenya Airways moving 26 million, 1.6 million, 1 million, 301,700 and 301,000 shares respectively.

None of the top five stocks recorded a rise in price with the banks stocks going down as Safaricom and the others were unchanged.

It was the first time in a week that the telecom had stayed firm following a call for boycott of its products by the opposition National Super Alliance which started last week.

Bond turnover went down marginally to stand at 21 million dollars from 22 million dollars on Friday last week.

             

 

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