Turnover rises 50 pct at Nairobi bourse on increased foreign outflows
Xinhua, July 2, 2016 Adjust font size:
Equity turnover at the Nairobi Securities Exchange (NSE) rose 50 percent on Friday to 12 million U.S. dollars, with foreign outflows surpassing inflows.
The foreign investors mainly sold East African nation's leading telecom Safaricom shares as its price slumped 1.4 percent to 0.17 dollars ending a two trading session surge.
The telecom traded 21 million shares out of the 36 million moved Friday.
Second in trading was Equity Bank, which moved 9.5 million.
Kenya Commercial Bank Group was the third top mover with the stock going up 4 percent but attracting fewer foreign investors.
The surge in trading saw the NSE 20 Share Index go up 12.18 points to close at 3,652.79 while the NSE All share Index (NASI) was down 0.14 points to close at 140.46.
Week-on-week turnover stood at 33 million dollars on a volume of 126 million shares, down from 38 million dollars posted the previous week. Endit