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Nairobi bourse key index edges up amid falling turnover

Xinhua, February 11, 2017 Adjust font size:

Some 32 million shares worth 6.2 million U.S. dollars were transacted at the Nairobi Securities Exchange (NSE) Friday as trading slowed down 44 percent.

On Thursday, trading at the securities market hit a peak of 70 million shares worth 11 million dollars as the bourse recorded its best day since January.

Despite a drop in turnover, the NSE 20 Share Index sustained momentum, gaining 18 points to stand at 2,951.62 and gravitating towards the psychological 3,000 mark. In total, benchmark NSE 20 share Index gained 89.23 points this week.

Leading telecom operator Safaricom was the day's top mover after trading 12 million shares at unchanged price of 0.18 dollars. Thursday, the telecom traded 26 million shares.

Cooperative Bank came in second with 10.1 million shares at 0.11 dollars, with the stock attracting mainly foreign buys, after Safaricom.

Equity Bank and NIC Bank were the third and fourth best traders, with stocks attracting foreign buys and sales respectively to move 3.5 million and 1.1 million shares at 0.27 dollars and 0.21 dollars.

Britam closed the list of the best five stocks after moving 972,300 shares at 0.09 dollars, an increase of 0.5 percent. Foreign investors' participation during the trading increased to 82 percent Friday from 45 percent in previous session.

The bond market registered declined trading Friday as bonds worth 5 million dollars were traded from 26 million dollars Thursday. Enditem