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Roundup: Low week at Nairobi bourse as key index, trading fall

Xinhua, May 7, 2016 Adjust font size:

Equity turnover for the four-day trading week at the Nairobi Securities Exchange (NSE) went down to 16 million U.S. dollars on Friday on a volume of 66 million shares, a drop from 33 million dollars on 134 million shares posted the previous week.

The few trading days notwithstanding, it was generally a low-week for the bourse as it registered a downward trajectory in the four days, with number of shares traded and key indices hitting a new low Friday.

Market turnover on Friday stood at 2.7 million dollars from the previous day's session of 4.2 million dollars.

The NSE 20 Share Index closed the day at 3,964.65, a drop of 58 points having started the week at a high of 4,022.61.

The All Share Index (NASI), similarly, ended 1.32 points lower during the week to stand at 145.61 points while the NSE 25 Share Index was down 49.17 points to settle at 4,205.69.

Kenya's leading telecom firm, Safaricom was the week's biggest mover with 24 million shares changing hands at an average of 0.17 dollars, representing 37 percent of the week's traded volume. Friday, the telecom moved 5 million shares, down from 11 million in the previous trading session.

The banking sector had 18 million shares traded in the entire week, which accounted for 27 percent of the week's traded volume.

Equity Group Holdings was the most heavily traded counter in the sector, with 10 million shares changing hands at 0.40 dollars.

Kenya Commercial Bank (KCB) Group touched a high of 0.42 dollars and a low of 0.36 dollars on a volume of 5.2 million shares.

The construction sector moved 2.8 million shares, with Athi River Mining contributing a total of 2.2 million shares.

The energy and petroleum sector moved 8.6 million shares, which accounted for 13 percent of the week's traded volume. KenolKobi, in the category, actively moved 6.9 million shares during the week.

The bond market registered reduced activity, with bonds 84 million dollars transacted compared to 113 million posted the previous week. Endit