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Low foreign trading pushes down Nairobi bourse turnover

Xinhua, November 26, 2016 Adjust font size:

Nairobi Securities Exchange (NSE) ended the week on a low as turnover fell 54 percent to 2.5 million U.S. dollars on a volume of 13 million shares due to low foreign trading.

Regional oil marketer KenolKobil was the day's biggest mover, trading 3.4 million shares at an increased price of 0.15 dollars, a 12-month high. Foreign investors were mainly buyers of the stock.

On the other hand, Kenya Commercial Bank (KCB) recorded the highest foreign outflows as it moved 1.8 million shares at unchanged price of 0.30 dollars.

Foreign investors' participation during the trading decreased to 63 percent from 68 percent and were active on both sides of trading.

Kenya's leading telecommunication service provider Safaricom, an investors' favourite, did not make it to the top five traded list as it went down to 0.19 dollars.

During the trading, the NSE 20 Share Index was down 7.72 points to close at 3,265.89.61 while the NSE All share Index (NASI) was down 0.99 points to close at 137.40.

At the bond market, turnover reduced by 21.3 percent to close the week at 6.7 million dollars. Endit