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Safaricom attracts foreign inflows to Nairobi bourse

Xinhua, September 8, 2016 Adjust font size:

Boosted by increased sale of Safaricom, Nairobi Securities Exchange (NSE) turnover soared to 19 million U.S. dollars Wednesday on a volume of 86 million shares, up from 17 million shares worth 7.8 million dollars posted in the previous trading session.

Safaricom, Kenya's leading telecom operator, gained 1 percent on its price to trade at 0.19 dollars as the stock moved 57 million shares, mainly foreign buys, some 66 percent of the day's traded volume.

The banking sector had 15.6 million shares traded, representing 18 percent of the day's traded volume.

Under the category, Equity Bank was the most heavily traded counter moving 13 million shares at unchanged price of 0.26 dollars while Kenya Commercial Bank (KCB) group went up few cents to move 1.2 million shares at 0.27 dollars.

In the manufacturing sector, some 2.7 million shares exchanged hands with East African Breweries Ltd moving 1.3 million after going down slightly.

Uganda's power distributor Umeme actively moved a million shares in the energy sector out of the 1.3 million traded.

The benchmark NSE 20 Share Index went down 0.68 points to stand at 3,168.62 while the All Share Index edged 0.33 points up to stand at 130.75. On the other hand, the NSE 25 Share Index shed 0.16 points to settle at 3,420.70.

The bond market witnessed improved activity as securities worth 15 million dollars were transacted, compared to 10 million posted the previous session. Endit