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Nairobi bourse falls on fall in top stock prices

Xinhua, October 5, 2016 Adjust font size:

Some 28 million shares valued at 5.6 million U.S. dollars were traded at the Nairobi Securities Exchange (NSE) Tuesday, down from 24 million shares worth 6.9 million dollars as the market fell amid a cut in foreign investors trading and decline in prices of some top stocks.

Kenya Commercial Bank (KCB), Kenya Power, Equity Bank and Nation Media Group are some key stocks that dropped Tuesday by between 1 and 6 percent.

The insurance sector was the day's biggest mover, trading 13.2 million shares which represented 46 percent of the day's traded volume.

Kenya's leading telecom operator Safaricom moved 8.6 million shares, up from 8 million Monday at an average of 0.20 dollars.

The banking sector had 4.8 million shares traded to represent 17 percent of the day's traded volume. KCB actively moved 2.4 million shares at 0.29 dollars, down one percent, while Equity Bank declined five percent to 0.31 dollars and moved 988,000 shares.

The energy sector traded 662,000 shares, with KenGen closing 1.5 percent higher to 0.06 dollars on a volume of 522,000 shares.

The NSE 20 Share Index was down 12.46 points to stand at 3,282.64 while the All Share Index (NASI) shed 0.44 points to settle at 137.71. On the other hand, the NSE 25 Share Index dropped 23.50 points to stand at 3,660.56. Endit