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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenya’s bourse opens low as trading resumes slowly

NAIROBI (Xinhua) -- Trading at the Nairobi Securities Exchange (NSE) was stifled on Tuesday as the market reopened for the first session in 2018.

Turnover stood at 1.9 million U.S. dollars on a volume of 7.1 million shares from 12 million shares worth 2.3 million dollars.

The benchmark 20 Share Index declined 7.43 points to end the day at 3,704.51 pulled down by selected large stocks, whose prices fell, including Sasini (8.5 percent), CFC Stanbic (1.5 percent) and Athi River Mining Cement (2 percent)

Kenya’s leading telecom Safaricom was the top traded stock after moving 4 million shares at 0.26 dollars.

The telecom was followed by Equity Bank, which moved 1 million shares after rising to 0.39 dollars while HomeAfrika traded 332,000 shares to end the day at the third position.

At the fourth place was Barclays Bank with 255,900 while Kenya Power closed the top five spot with 226,700 shares.

At the bond market, turnover declined considerably to end at 970,873 dollars from 11 million in the last session on Friday.

Foreign investor participation stood at 76 percent while local 24 percent, with the former being net sellers.

           

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