KenGen lifts Nairobi bourse to record 120 mln share trading

Nairobi Securities Exchange (NSE) hit a new record Thursday as 120 million shares worth 12 million U.S. dollars were traded, up from 19 million worth 3.6 million dollars the previous day, with the market boosted by power-generator Kengen.

Electricity generator KenGen was the day's top mover, trading a record 94 million shares at 0.06 dollars, a rise of 0.8 percent.

Stockbrokers attributed the performance on Wednesday's announcement by management that it had extended the company's chief executive term by a year.

Safaricom, Kenya's leading telecom operator, was the day's second top mover. The company transacted 13 million shares at 0.18 dollars, a 0.8 percent drop and mainly foreign outflows.

Cooperative Bank, Kenya Commercial Bank and Equity Bank closed the list of day's top five movers as they traded 4.9 million, 3.3 million and 2.6 million shares respectively, all at declined prices as the banking counter attracted the highest inflows.

Foreign investor participation swelled to 87 percent from Wednesday's 57 percent accounting for 92 percent of total buying and 82 percent of total selling.

Despite the huge volumes of shares moved, decline in large stock prices saw the NSE 20 Share Index continue with a downward trend as it lost 23 points to stand at 3,170.13 Thursday.

The All Share Index (NASI), similarly, closed lower at 131.45 from 132.27 and the NSE 25 Share Index ended the day at 3,481.64 from 3,498.99. Endit