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Nairobi bourse turnover swells on Safaricom outflows

Xinhua, October 21, 2016 Adjust font size:

Turnover at the Nairobi Securities Exchange (NSE) increased Friday by 96 percent to 5.1 million U.S. dollars on a volume of 26 million shares boosted by Safaricom outflows.

Kenya's leading telecom operator accounted for 68 percent of total turnover after moving 18 million shares at 0.19 dollars, with foreign investors, who accounted for 86 percent of trading, disposing them.

Kenya Commercial Bank (KCB) was the second top mover, trading a paltry 3.4 million shares at 0.27 dollars, which as Safaricom, were mainly foreign sales.

The rest of the stocks, Kenya Airways, KenGen and CIC, in the top five day's movers did not trade more than a million shares.

The NSE 20 Share Index closed the week at 3,203.38, having shaved-off 64.54 points or 2 percent in the four-day trading.

Similarly, the All Share Index shed 1.74 points during the week to settle at 135.79 while the NSE 25 Share Index was down 49.55 points during the week to stand at 3,594.03.

The bond market registered improved activity, with securities worth 86 million dollars transacted compared to 70 million registered last week. Endit