NAIROBI (Xinhua) --
Investors’ wealth at the Nairobi Securities Exchange (NSE)
has hit a new high boosted by rise in stock prices.
measured by market capitalization, stood at 26.1 billion
dollars on Thursday, having risen by about 2 billion
U.S. dollars in five months and 6 billion dollars in a
wealth fell to less than 20 billion dollars in mid-2016
as trading at the bourse hit the nadir, but has been on
a climb albeit slowly to reach the new level.
Some of the
stocks that have helped lift Kenya’s bourse market
capitalization include Safaricom, Equity Bank, Kenya
Commercial Bank (KCB), KenolKobil, Kenya Airways, East
Africa Breweries Ltd, Barclays Bank, Cooperative Bank
noted that a number of stocks have recorded double digit
gains in the last one year, making them attractive for
investors to sell them to cash in.
leading telecom Safaricom share price has surged by 56
percent to 0.29 dollars in the last one year, KCB by 76
percent to 0.45 dollars, Equity Bank by 43 percent to
0.43 dollars, KenolKobil by 14 percent to 0.15 dollars
and Bamburi by 20 percent to 1.7 dollars.
leading in selling the stocks are foreign investors who
in the last two weeks have cashed in raising outflows at
the NSE showed that last week, net outflows stood at 30
million dollars, a four-year high thanks to the share
foreigners have since cut their trading at the NSE after
cashing in, on Thursday standing at a low of 35 percent.
Kenya’s stocks close
week higher amid rise in turnover
NAIROBI (Xinhua) --
Kenya’s Nairobi Securities Exchange (NSE) ended the week
higher on Friday as both turnover and key indices
surged, reversing a negative turn.
stood at 4.6 million U.S. dollars on a volume of 13.7
million shares, up from 3.6 million dollars from 10.9
Kenya Commercial Bank (KCB), Centum and Co-operative
Bank accounted for 85 percent of the total turnover.
traded counters were, however, Safaricom, KCB,
Co-operative Bank, Equity Bank and Centum, moving 4.7
million, 2.7 million, 1.9 million, 1.3 million and
840,000 shares respectively.
The NSE 20
Share Index was up 9.97 points to close at 3,713.25
points while the NSE All Share Index (NASI) was up 1.59
points to close at 180.25 points.
At least 14
stocks that make up the 20 Share Index rose on Friday by
between 0.5 percent and 6 percent, lifting the index.
The stocks include Safaricom, Sasini, Nation Media Group
participation stood at 45 percent, up from 35 percent on
Thursday, as local investors dominated trading at 55
On the bond
market, turnover went up by 7.1 percent to stand at 21