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Kenya's bourse ends week on low as turnover, key indices decline

Xinhua, February 18, 2017 Adjust font size:

Nairobi Securities Exchange (NSE) closed the week Friday on a low as both turnover and key indices went down.

During the session in which foreign investors participation stood at 85 percent, turnover declined 31 percent to 3.8 million U.S. dollars on a volume of 20 million shares from 23 million shares worth 5.6 million dollars.

Similarly, the benchmark 20 Share Index lost momentum it had built in the last two trading sessions to go down 23 points from 2,948.75 points.

Safaricom, Kenya's biggest telecom operator, was the best traded stock moving 13.2 million shares at a declined price of 0.17 dollars. Thursday, the telecom traded 4.7 million shares.

Kengen came in second with 2.2 million shares, with the share price going up to 0.06 dollars.

Kenya Airways closed the list of stocks that traded more than a million shares Friday, after moving 1.6 million shares at 0.03 dollars.

The bond market similarly registered a decline with securities worth 4.8 million dollars transacted from 7.3 million dollars.

Overall, the market performed poorly this week, as the five-day turnover stood at 27 million dollars on a volume of 143 million shares, down from 41 million dollars on 216 million shares posted the previous week. Endit