Kenya's bourse turnover rises as benchmark index falls

Turnover at the Nairobi Securities Exchange (NSE) ended the week higher at 9.9 million U.S. dollars on a volume of 36 million shares, up from 19 million worth 3.2 million dollars, boosted by increased foreign buys.

But despite the 211-percent recovery, the NSE 20 Share index slid below the psychological 3,000 points mark as it shed 43 points to end at 2,971.10. The benchmark index has lost 168.11 points or 5.4 percent during the week.

Safaricom, Kenya's leading telecom, was the day's biggest mover trading 21 million shares at unchanged price of 0.17 dollars.

Equity Bank was the second top trader during the session after moving 5 million shares at a declined price of 0.25 dollars, a 2-percent drop.

Kenya Power transacted 3 million shares at 0.07 dollars, a dip of 1.3 percent, to emerge the third best trader on Friday at the bourse.

Kenya Commercial Bank and East African Breweries Ltd came fourth and fifth respectively by moving 2.7 million shares and 1.6 million shares respectively at 0.26 dollars and 2.2 dollars.

The All Share Index ended the week 5.82 points lower to stand at 123.94 while NSE 25 Share index dropped 196.44 points to settle at 3,228.69.

However, the bond market witnessed improved activity with bonds worth 66 million dollars transacted during the week compared to 27 million posted the previous week. Endit