Nairobi bourse rebounds on foreign investors' comeback

Turnover at the Nairobi Securities Exchange (NSE) rebounded Friday to end the week on a high of 4 million U.S. dollars from 18 million shares against 1.9 million dollars in the previous session.

The trading was boosted by foreign investors' return to the bourse, especially in the telecommunication and banking counters, with their participation standing at 79 percent from 53 percent Thursday.

Leading telecommunication service provider Safaricom was the day's biggest mover, trading 11.3 million shares at unchanged price of 0.18 dollars, up from 2 million shares Thursday.

Equity Bank came second with 3.3 million shares that exchanged at unchanged price of 0.30 dollars, an improvement from 1.5 million shares in the previous session.

Cooperative Bank was the third top day's trader, moving 1.2 million shares at an increased price of 0.13 dollars. The three are the only stocks that clocked a million shares during the session.

The NSE 20 Share Index dropped 25 points during the session to end the week at 3,104.95 points while the All Share Index (NASI) was down 0.14 points to close at 130.81. Similarly, the NSE 25 Share Index ended the week at a stable 3,464.77 points. Endit