Turnover at Nairobi bourse goes up amid rising prices of key stocks

Equities turnover at the Nairobi Securities Exchange (NSE) went up slightly Wednesday as prices of key stocks rose.

Turnover increased to 7 million U.S. dollars with 27 million shares traded up from 18.7 million shares valued at 6.2 million dollars the previous day.

Top on the list of shares whose prices rose were leading telecom Safaricom (0.31 percent), Cooperative Bank (5.26 percent, the highest) and British America Tobacco (4.83 percent).

Safaricom was the day's biggest mover, with the company's 15 million shares changing hands at a high of 0.17 dollars.

The banking sector moved 7.9 million shares of the total traded representing 29 percent of the day's volume.

In the sector, Equity Group Holdings had five million shares traded at between 0.41 dollars and 0.42 dollars while KCB Group's went up marginally to 0.41 dollars as the company moved 1.4 million shares. Leading gainer Cooperative Bank moved 549,000 shares and closed the day at 0.21 dollars.

The energy and petroleum sector moved 471,000 shares, which accounted for 1.7 percent of the day's traded volume. On the other hand, the commercial and services sector had 618,000 shares traded, representing 2.23 percent of the day's traded volume while insurance sector moved 195,000 shares.

The improved demand for shares as prices surged saw the NSE 20 Share Index go up 4.15 points to stand at 3,925.25, from 3,921.1 the previous day.

The All Share Index (NASI), similarly, closed the day 0.09 points higher standing at 145.35 while NSE 25 Share Index gained 21.98 points to settle at 4,227.44.

The bond market too recorded gains, with bonds worth 34 million dollars transacted compared to 24 posted the previous day. Endit