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Nairobi bourse trading down on low Safaricom trading

Xinhua, December 2, 2016 Adjust font size:

A drop in trading at the Nairobi Securities Exchange (NSE) Thursday pushed down turnover 60 percent to 3.5 million U.S. dollars on a volume of 14.2 million shares from 36 million worth 8.8 million dollars in the previous session.

Kenya's leading telecom Safaricom was the biggest contributor to the low session, trading 19 million shares less from Wednesday's 26 million despite a 0.3 percent surge in its price.

Britam, an insurance company, was the second best day's mover as it had its 2.9 million shares change hands at 0.10 dollars, a rise of 1 percent.

Save for the two stocks, none of the others at the bourse traded more than a million shares during the session. KenolKobil, ICDC and Cooperative Bank, which were the third, fourth and fifth day's top movers traded a paltry 889,300, 589,700 and 534,800 shares, mainly foreign outflows.

Despite the low show, market capitalisation, a measure of shareholders wealth, went up marginally to stand at 19.6 billion dollars Thursday from 19.4 billion dollars.

Similarly, the NSE 20 Share Index closed 3 points higher to stand at 3,250.62 while the All Share Index (NASI) gained 0.13 points to end at 136.74 and the NSE 25 Share Index eased 11 points to 3,599.17. Endit