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Turnover rises at Nairobi bourse on higher outflows

Xinhua, November 9, 2016 Adjust font size:

Trading at the Nairobi Securities Exchange (NSE) rose to 7.2 million U.S. dollars Tuesday on a volume of 27 million shares in a session dominated by foreign outflows.

Safaricom, Equity Bank, East African Breweries Ltd (EABL) and Kenya Commercial Bank were the foreign investors' favorites, with the first three accounting for most of the sales and buys.

Safaricom, Kenya's leading telecom, was the day's biggest mover with 16 million shares changing hands at 0.21 dollars, a 1.2-percent decline.

Stockbrokers attributed the sale to foreign investors seeking to take profit from the share that recorded a surge last week following good financial results.

KenGen was the second best mover, actively trading 2.2 million shares, mainly by local investors, at 0.05 dollars. In total, the energy sector traded 3.8 million shares.

The banking sector moved some 3.3 million shares in total, with Equity Bank trading 1.9 million shares at 0.31 dollars.

The manufacturing sector had 1.3 million shares traded, boosted mainly by EABL which moved 699,000 shares at 2.7 dollars and Mumias Sugar 657,000 shares at 0.01 dollars.

Kenya Airways in the commercial sector touched a 12-month high of 0.07 dollars on a volume of 1 million shares.

The NSE 20 Share Index declined 6.07 points to stand at 3,242.46 while the All Share Index (NASI) shed 0.69 points to settle 139.80. On the other hand, the NSE 25 Share Index was down 7.04 points to stand at 3,680.71. Endit