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Nairobi bourse indices rise first time in week as equity trading doubles

Xinhua, April 1, 2016 Adjust font size:

Some 32 million shares valued at 6 million U.S. dollars were traded at the Nairobi Securities Exchange on Thursday, up from 16 million shares totalling 5.1 million dollars Wednesday as the bourse showed resurgence, with key indices rising.

KenolKobil for the second time in a week supplanted Safaricom from the top spot as the biggest day's mover, with the company's 9.5M shares changing hands at between 0.10 dollars and 0.11 dollars.

The oil marketer with operations in Kenya, Uganda, Burundi, Rwanda, Zambia and Ethiopia, was the biggest mover Tuesday, trading 8 million shares.

Analysts noted that investors were going for the shares after the firm announced a 20 million dollars profit for 2015, up from 11 million dollars.

Safaricom, on the other hand, traded 6.7 million shares Thursday, up from 6.5 million, with the price going up to 0.17 dollars, a minimal rise.

During the trading, key indices went up for the first time in the week, with the NSE 20 Share Index closing the day up 0.76 points to stand at 3982.09.

The All Share Index (NASI) ended 0.83 points higher to stand at 147.44 while The NSE 25 Share Index was up 13.85 points to settle at 4261.05.

The banking sector had 5.3 million shares traded, representing 16.4 percent of the day's traded volume.

In the sector, KCB Group was the most heavily traded counter, with 2 million shares changing hands while Equity Group Holdings and Cooperative Bank moving a million shares at 0.40 dollars and 0.20 dollars each.

The commercial and services sector moved 1.3 million shares, which accounted for 4 percent of the day's traded volume, while the insurance sector had 3.7 million shares traded or 11.4 percent of the total shares.

Bonds trading stood at 20 million dollars from 36 million dollars traded the previous day. Endit