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Bank, telecom, energy stocks lift Nairobi bourse

Xinhua, November 17, 2016 Adjust font size:

Stocks in the banking, telecommunication and energy sectors registered price raises to help lift up the Nairobi Securities Exchange (NSE) turnover and key indices on Wednesday.

Turnover rose to 4.4 million U.S. dollars from the previous session's 2.5 million dollars, with the number of shares traded standing at 17 million against 11 million posted Tuesday.

The NSE 20 Share Index, similarly, was up 10 points to stand at 3,272.47 points while the All Share Index (NASI) closed 0.97 points higher at 140.06.

Equity Bank, Standard Chartered Bank and National Bank in the banking sector, Kengen in the energy category and Safaricom in telecommunication went up by between 1.2 percent and 9 percent respectively to push up the bourse.

Some 5.4 million shares, which accounted for 31 percent of the day's traded volume, were moved in the energy sector, with KenGen transacting 2.3 million of the shares to close at 0.06 dollars, a 7 percent rise. Kenya Power moved 2.9 million shares.

In the banking category, some 3 million shares were exchanged to represent 18 percent of the day's traded volume, with Equity Bank moving 1.6 million shares of the total at 0.32 dollars.

Kenya's leading telecom, Safaricom, was the day's biggest mover, trading 4.9 million shares at 0.20 dollars, marking a 1.2-percent rise. Endit