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Equity turnover at Nairobi bourse doubles as stock prices rise

Xinhua, May 19, 2016 Adjust font size:

A rise in prices of various stocks led by the banking sector saw turnover at Nairobi Securities Exchange more than double Wednesday to 6.4 million U.S. dollars from 2.3 million in previous trading session.

Kenya Commercial Bank Group and Equity Group Holdings were the main movers at the bourse as their prices surged by up to 0.01 dollars.

Equity Group Holdings was the day's biggest mover, with 3.8 million shares changing hands at an average of 0.40 dollars from 0.39 dollars.

KCB Group went some cents up to hit 0.41 dollars on a volume of 3.6 million shares, up from 454,000 shares. In total, the banking Sector had 9.6 million shares traded, accounting for 46 percent of the day's traded volume.

The energy and petroleum sector had 5.7 million shares traded, accounting for 27 percent of the day's traded volume.

KenolKobil, in the category, erased Tuesday's drop of 1.4 percent to gain 2.4 percent to close at 0.11 dollars on a volume of 2.3 million shares. Similarly, KenGen actively moved 2 million shares at a high of 0.07 dollars.

The manufacturing and allied sector moved 1.6 million shares, which represented 7.7 percent of the day's traded volume.

Safaricom, usually the top mover, remained unchanged at 0.17 dollars and moved 1.5 million shares, down from 4.5 million the previous day.

The NSE 20 Share index was up 11.45 points to stand at 3,878.42, reversing Tuesday's decline while the All Share Index ended 0.43 points higher to stand at 145.74 and the NSE 25 Share Index gained 17.89 points to settle at 4,197.87.

The bond market had bonds 190 million dollars transacted compared to 180 million in the previous session. Endit