Nairobi bourse week-on-week turnover doubles on foreign inflows

Nairobi Securities Exchange (NSE) week-on-week turnover more than doubled to 58 million U.S. dollars on Friday on a volume of 147 million shares buoyed by foreign investors' inflows, up from 20 million dollars on 78 million shares last week.

Kenya's leading telecom Safaricom attracted the most inflows during the week after touching a high of 0.18 dollars on Wednesday.

The telecom, thanks to foreign buys, traded 66.2 million shares from 23 million last week, representing 45 percent of the five-day traded volume.

On Friday, the firm slowed down to second top mover, trading 6.7 million shares from 21 million in the previous trading session.

The banking sector was the second top mover during the week, clocking 41 million shares that accounted for 28 percent of the week's traded volume.

Equity Group Holdings was the most heavily traded counter in the category during the week with 15 million shares changing hands at 0.40 dollars. Friday, the bank moved less than 400,000 shares.

The energy and petroleum sector moved 19.1 million shares, with KenGen actively moving 10.6 million shares at 0.07 dollars.

The manufacturing and allied sector moved 8.3 million shares, with East African Breweries Ltd, which attracted huge foreign sales during the week, moving 5.1 million shares.

The surge in trading saw the NSE 20 Share Index close the week up 32.11 points at 3,833.42 points.

Similarly, the All Share Index (NASI) went up 3.48 points to stand at 146.97 points and the NSE 25 Share Index gained 50.41 points to settle at 4,165.23 points.

The bond market registered improved activity with securities worth 187 million dollars transacted compared to 130 million dollars posted the previous week. Endit