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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 
Foreigners trading lifts Kenya’s bourse equity turnover

NAIROBI, (Xinhua) -- Equity turnover at the Nairobi Securities Exchange (NSE) nearly doubled on Wednesday on increased foreigners trading.

The turnover stood at 8.7 million dollars on a volume of 37 million from 16 million worth 4.5 million dollars.

Foreign participation ended at 72 percent from 57 percent on Tuesday as locals’ input dropped to a paltry 28 percent.

The foreigners mainly went for leading telecom Safaricom shares, buying as much as they sold but overall, they were net sellers.

Safaricom, Kenya Commercial Bank (KCB), Kengen, East African Breweries Ltd and Equity Bank accounted for 88 percent of the total turnover.

The most traded counters were Safaricom, Kengen, KCB, Cooperative Bank and the NSE itself moving 19 million, 9.2 million, 2 million, 1.6 million and 1.1 million shares respectively.

The NSE 20 Share Index once again was on a downward trend declining 18 points to close at 3,751.10. This was a continuation from 34.44 points on Tuesday. The index was pulled down by the fall of Kenya Power, Equity Group and Britam.

On the other hand, the NSE All share Index (NASI) was up by 0.33 points to close at 173.63 points on Wednesday.

At the bond market, turnover went down by 15 percent to stand at 27 million dollars from 31 million dollars on Tuesday. 

 

Kenya’s bourse key indicator dips on drop of large stocks 

NAIROBI, (Xinhua) -- Kenya’s Nairobi Securities Exchange (NSE) benchmark index declined considerably on Tuesday, pushed down by a drop in prices of most of the shares that make the indicator.

The NSE 20 Share Index was down 34.44 points, the biggest decline in recent times, to close at 3,769.34 points.

The index was pulled down by fall of Safaricom, Kenya Power, Kengen, Nation Media Group and British America Tobacco (BAT), among others, which declined by between 1 and 7 percent. Similarly, the NSE All Share Index (NASI) was down by 0.31 points to close at 173.30 points.

Safaricom, Kenya Commercial Bank (KCB), Equity Bank, BAT and NSE (which is also listed at the bourse) accounted for 83 percent of the total turnover.

The most traded counters were, however, Safaricom, KCB, Equity, Home Afrika and Cooperative Bank moving 6.6 million, 2.3 million, 1.5 million, 1.1 million and 600,000 shares respectively.

A total of 16 million shares worth 4.5 million U.S. dollars were traded, a decline of 41 percent from 26 million shares worth 7.6 million shares in the previous session.

Foreign participation stood at 57 percent and local participation stood at 43 percent. The foreigners were net sellers.

At the bond market, turnover went up by 55 percent to stand at 31 million dollars from 20 million dollars on Monday.

           

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