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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Nairobi Securities Exchange week-on-week turnover doubles

NAIROBI (Xinhua) -- Trading at the Nairobi Securities Exchange (NSE) was vibrant this week with equity turnover more than doubling at the end of Friday.

Week-on-week turnover stood at 66 million dollars on a volume of 215 million shares, up from from 106 million shares worth 30 million dollars the previous week.

The turnover was mainly boosted by foreigners’ trading of Safaricom, as the telco moved 93 million shares at between 0.28 dollars and 0.30 dollars, representing 42 percent of the week’s traded volume.

The banking sector came second, accounting for 34 percent of the total turnover. Equity Bank was the main trader actively moving 21 million shares.

All the key indicators of the market, however, closed lower on Friday. The NSE 20 Share Index dropped 17.16 points during the week to stand at 3,741.02.

On the other hand, the All Share Index (NASI) was down 1.73 points to end at 179.96 while the NSE 25 Share Index shed 35.69 points to settle at 4,509.07.

On the bond market, trading was upbeat as the five-day turnover rose to 18 million dollars, up from 16 million dollars of the previous week.

             

 

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