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Nairobi bourse starts week strongly as turnover, benchmark index swell

Xinhua, November 1, 2016 Adjust font size:

The Nairobi Securities Exchange (NSE) started the week strongly with 13 stocks rising to push the benchmark index 25 points up to 3,229.22.

Similarly, the number of shares traded and turnover too went up, standing at 15 million valued at 3.3 million U.S. dollars from 5.4 million worth 624,557 dollars posted last week Friday.

The rebound was a positive signal to investors, especially foreign ones, following the worst fall in turnover in the two years.

Kenya Power, Kenya Airways, Nation Media Group and Athi River Mining are among key shares that rose significantly, with the surge ranging from 0.6 percent to 5 percent.

However, Kenya Commercial Bank was the top mover, trading 6 million shares at 0.27 dollars, a 0.8 percent rise, with the institution trading the bulk of the 6.6 million shares moved in the banking category.

Safaricom, Kenya's leading telecom operator, was the second top mover, trading 4.5 million shares at between 0.20 dollars.

The commercial sector traded 1.9 million shares, with Kenya Airways accounting for 1.5 million shares at 0.05 dollars. On the other hand, the energy sector moved 1 million shares, as KenGen traded the bulk (928,000 shares) as 0.05 dollars.

The All Share Index (NASI) was unchanged at 137.04 while the NSE 25 Share Index was up 0.97 points to stand at 3,633.07.

At the bond market, securities worth 13 million dollars transacted, down from 17 million dollars in previous session. Endit