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Safaricom clocks new high, doubles trading at Nairobi bourse

Xinhua, August 2, 2016 Adjust font size:

Kenya's leading telecom operator Safaricom share touched a new high of 0.20 U.S. dollars Monday to double turnover at the Nairobi Securities Exchange (NSE).

The firm, which mainly attracted foreign buys, traded half of the 35 million shares worth 7.5 million dollars moved at the bourse. Last Friday, a total of 19 million shares valued at 3.7 million dollars were posted.

Following Safaricom in robust trading was Uganda's electricity generator Umeme. The firm moved 7.6 million shares at 0.15 dollars of the 8 million traded in the energy sector.

In the banking sector, some 8 million shares, mainly foreign sales, were traded with Cooperative Bank moving 4 million of them at 0.14 dollars.

The rest of the sectors, commercial, manufacturing and insurance performed poorly, failing to clock a million shares.

The slight drop in prices of a majority of top 20 stocks saw the benchmark NSE 20 Share Index go down 28 points to stand at 3,460.60.

The All Share Index was up 0.52 points to stand at 142.91 while the NSE 25 Share Index shed 0.81 points to stand at 3,935.83.

At the bond market, securities worth 14 million dollars were transacted from 21 million dollars last Friday. Endit