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Nairobi bourse turnover up as market rebounds

Xinhua, December 1, 2016 Adjust font size:

Some 36 million shares valued at 8.8 million U.S. dollars were traded at the Nairobi Securities Exchange (NSE) Wednesday, up from 22 million shares worth 5.5 million dollars in the previous session as the market rebounded.

Various top stocks led by Safaricom, Kenya Power, Scangroup and Barclays Bank saw their prices go up by between 0.3 percent and 5 percent.

Safaricom, Kenya's leading telecom, was the top mover, trading 25 million shares at 0.19 dollars, a rise of 0.5 dollars. The stock contributed 69 percent of the total turnover.

Foreign investors during the trading bought as much as they sold, with Safaricom dominating the buying side while KCB and Equity Bank attracted sales.

The NSE 20 Share Index on Wednesday lost 9 points to settle at 3,247.19, which was an improvement from Tuesday's decline of 17 points and Monday's 16 points. On the other hand, the NSE 25 share index closed the day at 3,610.27. Endit