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Locals trade as much as foreigners lifting Kenya’s bourse

NAIROBI, (Xinhua) -- Foreign investors traded as much as locals at the Nairobi Securities Exchange (NSE) on Wednesday amid rise in turnover by 48 percent.

Turnover stood at 7.6 million U.S. dollars on a volume of 31 million shares from 5.1 million dollars from 16 million shares.

In the session, foreigners’ participation stood at 50 percent, same as the locals who have dominated trading since the start of the week.

KenolKobil, Equity Bank, NIC Bank, Safaricom and East African Breweries Ltd accounted for 85 percent of the total turnover.

However, the most traded counters were KenolKobil, NIC Bank, Safaricom, Equity Bank and Co-operative moving 16.3 million, 3.5 million, 3.1 million, 3.0 million and 1.5   million shares respectively.

The NSE 20 Share Index declined 20.36 points on Wednesday, pushed down by the decline of 11 large stocks.

The index closed at 3,707.29, continuing with a downward trend recorded in the last three sessions. At the bond market, turnover stood at 13 million dollars. 


Kenya’s bourse turnover slides as investors eye bonds  

NAIROBI, (Xinhua) -- Some 16 million shares worth 5.1 million dollars were traded at the Nairobi Securities Exchange (NSE) on Tuesday as trading remained subdued.

The turnover was a decline from 6.2 million dollars from 21 million shares traded on Tuesday, with investors said to be shifting to the secondary bond market and the primary debt market, where the east African nation is offering 388 million dollars in Treasury bond for budgetary support.

Safaricom, Kenya’s leading telecom operator, was the top mover at the bourse on Tuesday, trading 6.9 million shares at 0.29 dollars, a 0.8 percent rise.

The stock was followed by Equity Bank, which moved 1.81 million dollars at unchanged price of 0.43 percent, while Cooperative Bank came third with 1.8 million shares traded at 0.17 dollars.

Carbacid came fourth during the session after moving 1.3 million shares while Kenya Commercial Bank closed the list of the top five most-traded stocks after moving 1.1 million shares.

The NSE 20 Share Index declined 1.67 points to end the day at 3,727.65 points, down from 3,729.32, while the Nairobi All Share Index went up marginally to close at 178.35, a rise of 0.32 percent. 


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