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Nairobi bourse turnover surges on robust Safaricom trading

Xinhua, September 23, 2016 Adjust font size:

Kenya's leading telecom operator Safaricom traded a record 106.2 million shares as the Nairobi Securities Exchange (NSE) recorded its best trading day since January.

Turnover hit 27 million U.S. dollars on a volume of 130 million shares, up from 18 million valued at 3.5 million dollars posted Wednesday.

Before Thursday's trading, the biggest trading day at Nairobi bourse this year had been September 1, where some 95 million shares worth 20 million dollars were traded.

Safaricom, which mainly attracted foreign inflows Thursday, traded at a high of 0.20 dollars, a 0.5-percent increase, to account for 82 percent of the day's traded volume.

Equity Bank was the second top mover, trading 17 million shares at 0.27 dollars, a 2-percent increase.

The banking sector had 19 million shares traded in total to represent 15 percent of the day's traded volume as Kenya Commercial Bank, under the category, moved 1.6 million shares at 0.26 dollars.

The manufacturing sector was the third top category, moving some 1 million shares with Mumias Sugar trading 640,000 shares at a low of 0.01 dollars and East African Breweries rising to 2.7 dollars on a volume of 377,000 shares.

Despite the robust trading, the NSE 20 Share Index was down 0.58 points to stand at 3,169.64. On the other hand, the All Share Index (NASI) ended 0.60 points higher to stand at 133.45 while the NSE 25 Share Index was up 22.83 points to settle at 3,517.19.

The bond market recorded declined activity, moving securities worth 2.9 million dollars from 9.5 dollars the previous day. Endit