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Kenya's bourse trading slows down ahead of Eid holiday

Xinhua, July 7, 2016 Adjust font size:

Investors kept off the Nairobi Securities Exchange's (NSE) equities market Wednesday ahead of the Eid holiday to be marked in Kenya Thursday.

Turnover declined 71 percent to 3.4 million U.S. dollars on a volume of 15 million shares from Tuesday's 11 million dollars from 32 million shares.

Kenya's leading telecom Safaricom was the day's biggest mover with 9.3 million shares changing hands after going up 1.2 percent to trade slightly above 0.17 percent. Most of the shares traded were foreign buys.

The banking sector had 2.1 million shares traded, with Equity Group Holdings going up marginally to settle at 0.40 dollars to move 872,000 shares.

Kenya Commercial Bank Group moved a paltry 661,000 shares to close at 0.33 dollars while Barclays Bank remained unchanged at 0.10 dollars to trade 489,000 shares.

The energy and petroleum sector moved 2.5 million shares, with KenolKobil actively trading 2.2 million shares at between 0.10 dollars.

The insurance sector had 1.3 million shares traded. Under the category, Britam Holdings advanced 3.5 percent to trade at 0.14 dollars on a volume of 192,000 shares.

The low trading saw the NSE 20 Share Index plunge 3.67 points to stand at 3,664.78 while the All Share Index ended 0.61 points higher to stand at 140.84 and the NSE 25 Share Index was up 8.59 points to settle at 3,978.48.

Market capitalization, which measures shareholders wealth, went up 1.8 percent to close the day at 20 million dollars.

At the bond market, bonds worth 14 million dollars were transacted compared to 2.2 million dollars posted Tuesday. Endit