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Kenya's Safaricom pulls foreign inflows to Nairobi bourse

Xinhua, October 10, 2016 Adjust font size:

Turnover at the Nairobi Securities Exchange (NSE) rose 194 percent Monday as a total of 45 million shares valued at 10 million U.S. dollars were traded, against 17 million shares worth 3.4 million dollars posted last Friday.

The trading session was boosted by Kenya's leading telecom Safaricom, which attracted high inflows to the bourse as it moved 38 million shares of the total at 0.20 dollars, an increase of 1.3 percent.

Safaricom was the only stock that attracted most foreign inflows, with the investors' participation standing at 64 percent.

Equity Bank followed a distant second in the trading after transacting a paltry 4.4 million shares at 0.29 dollars, a decline of 0.8 percent.

Kenya Commercial Bank, which remained unchanged at 0.27 dollars, traded 554,700 shares to clinch the third top trader. In total, the banking sector had 5.1 million shares traded and represented 11 percent of the day's traded volume.

The lacklustre performance saw the NSE 20 Share Index go down 2.41 points to close at 3,258.93 while the NSE All share Index (NASI) was down 0.02 points to close at 138.15. On the other hand, the NSE 25 Share Index was up 6.03 points to stand at 3,648.71. Enditem