Kenya's bourse records best trading in several months

Kenya's leading telecom Safaricom moved a record 33 million shares at the Nairobi Securities Exchange (NSE) Thursday as its price hit 0.19 U.S. dollars to help the bourse record one of its best trading days in six months.

The stock accounted for 75 percent of the 45 million total shares traded worth 13 million dollars, with foreign investors, who mainly bought stocks, raising their participation to 87 percent from 66 percent.

Equity turnover at the NSE Wednesday stood at 9.9 million dollars on a volume of 40 million shares, mainly boosted by the energy sector stocks.

Safaricom during the trading traded 9.4 million shares at an average of 0.18 dollars. The 1.1 percent rise in share price Thursday saw the stock offer investors about 10 percent yield than a year ago.

Barclays Bank of Kenya was the second top mover, trading 2.6 million shares mainly sales at a declined price of 0.09 dollars. The price of the share has gone down significantly with investors losing 32 percent of their investment.

Cement maker Bamburi was the surprise entrant in the list of top five movers, trading 2.5 million shares, mostly sales, at 1.74 dollars.

Cooperative Bank moved 1.02 million shares as its share price dropped 1.2 percent to hit a low of 0.17 dollars from 0.20 dollars last month. Investors holding the share have lost about 17 percent of the value in a year.

The improved trading saw the NSE 20 Share Index rise 9 points to stand at 3,789.94, while All Share Index (NASI) ended 0.8 points higher to stand at 147.3 points and the NSE 25 Share Index gained to settle at 4,148.12.

Bond trading declined, with securities worth 11 million dollars transacted, down from 12 million. Endit