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Key stocks reverse losses to lift Nairobi bourse trading

Xinhua, June 29, 2016 Adjust font size:

Share prices of some key stocks at the Nairobi Securities Exchange (NSE) went up Wednesday, reversing losses that had made investors retreat from the bourse.

Kenya's leading telecom Safaricom, Equity Bank, Kenya Commercial Bank (KCB) Group and Centum Investment all rose during the trading session by between 0.6 and 3 percent.

The telecom led the share price gain among the top 20 stocks, going up 2.6 percent to trade at slightly above 0.17 U.S. dollars with KCB, Equity and Centum going up by between 0.6 and 0.7 percent.

The telecom moved 7 million shares, coming second to Equity Bank which traded 9 million shares at 0.37 dollars while KCB followed closely with 6.2 million shares at 0.34 dollars.

Some 27 million shares valued at 7.3 million U.S. dollars were traded, a rise of 143 percent from 15 million shares valued at 3 million dollars.

However, despite the gain in share prices by the stocks, NSE 20 Share Index went down 8 points to hit 3,629.05.

The All Share Index (NASI), as the NSE 20 Share Index, shed 0.32 points to settle at 139.32 while the NSE 25 Share Index dropped 7.33 points to 3,942.91. Endit