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Nairobi bourse reverse negative trend as all indices surge

Xinhua, October 3, 2016 Adjust font size:

All the Nairobi Securities Exchange (NSE) indices went up Monday as several stocks gained by between 1 and 6 percent, indicating a change of negative trend at the bourse.

The benchmark 20 Share Index gained 52 points or 1.6 percent to stand at 3,295.10 as 15 stocks went up, two remained unchanged and three fell.

CFC Stanbic, Equity Bank and Nation Media Group led in the price surges of the top 20 stocks category, gaining six percent Monday.

On the other hand, the All Share Index (NASI) ended 1.40 points higher to stand at 138.15 while the NSE 25 Share Index rose 61 points or 1.68 percent to settle at 3,684.06.

Kenya's leading telecom Safaricom was the top mover, trading 8 million shares at a new high of 0.20 dollars.

Equity Bank came second, moving 5 million shares at 0.32 dollars after going up 5.69 percent.

Also in the sector, Kenya Commercial Bank gained 5 percent to settle at 0.29 dollars on a volume of 3.3 million shares, with the banking sector trading in total 9.2 million shares or 37 percent of the day's traded volume.

The energy sector moved 4.6 million shares that accounted for 18 percent of the day's traded volume. KenolKobil, a regional oil marketer, actively moved 4 million of the shares at 0.11 dollars.

A total of 25 million shares valued at 6.9 million dollars were traded Monday, against 29 million shares valued at 8.3 million dollars posted in the previous session Friday, a drop of 18 percent. Endit