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Nairobi bourse records lowest turnover in nearly two years

Xinhua, October 29, 2016 Adjust font size:

Nairobi Securities Exchange (NSE) registered the lowest trading in nearly two years Friday as turnover declined to 624,557 U.S. dollars on a volume of 5.5 million shares.

During the previous day, the market closed at 20 million shares valued at 2.8 million dollars, with the stifled Friday trading mainly being attributed to foreign investors keeping off.

Their participation stood at 19 percent from 64 percent the previous day to push the market 78 percent down, the lowest in the last 22 months, according to stockbrokers.

Kengen was the most actively traded counter, moving 1.9 million shares, mainly foreign outflows, at unchanged price of 0.05 dollars.

Similarly, Kenya Airways, which was the second top mover, recorded high outflows to move 1.2 million shares, though its share price increased 6.5 percent to 0.06 dollars.

The rest of the stocks namely Safaricom, Kenya Commercial Bank (KCB) and Deacons, which made to the top five day's traders, did not move more than a million shares.

Safaricom traded 628,000 shares at a declined price of 0.19 dollars while KCB 230,000 at 0.27 dollars and Deacons 217,400 at 0.05 dollars, all of them outflows.

Despite the overall decline, the key indicators of the bourse recorded a marginal rise, with the NSE 20 Share Index closing at 3,204.67, 0.03 point higher. On the other hand, the All Share Index (NASI) edged up 0.1 points to stand at 137.04.

At the bond market, securities worth 17 million dollars were transacted, a drop of 50 percent. Endit