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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Nairobi bourse key index, turnover dip as foreigners retreat   

NAIROBI (Xinhua) -- Trading at the Nairobi Securities Exchange (NSE) was subdued last week as both turnover and the benchmark index declined, with foreigners retreating from the market.

The benchmark NSE 20 Share Index dropped 27.52 points to end at 3,719.17 as it continued with a negative trend from the previous day, pulled down by declining prices of key stocks.

Out of the 20 stocks that make the key index, only five rose as the rest declined or remained unchanged during the session.

Safaricom, Kenya’s leading telecom, was among the top stocks whose prices rose 2 percent to stand at 0.24 percent. Others were Nation Media Group (1 percent), Kenya Commercial Bank (KCB) (0.6 percent) and Centum Investment (0.5 percent).

Those that declined included Kengen, Kenya Airways, CFC Stanbic, Scangroup and Cooperative Bank, going down by between 0.3 percent and 0.7 percent.

The most traded counters were Safaricom, Cooperative Bank, KCB, CIC insurance and Mumias Sugar after moving 12.1 million, 5.8 million, 946,000, 823,000 and 795,200 shares respectively.

Foreign participation during the session dropped to 49 percent from 81 percent as local participation rose to 51 percent.

A total of 24 million shares worth 7 million dollars were traded during the session from the previous session’s 31 million worth 8 million dollars.

             

 

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