Kenya's bourse turnover, key index rise as prices of stocks rebound

Turnover at the Nairobi Securities Exchange (NSE) Wednesday rose for the second time in a row as prices of most large stocks surged.

Turnover rose to 7.9 million U.S. dollars on a volume of 49 million shares from 34 million worth 5.7 million dollars.

The increase in prices saw the benchmark NSE 20 Share Index gain 18.72 points to stand at 2,983.20 while the All Share Index (NASI) inched up 0.46 points to stand at 125.39. Similarly, the NSE 25 Share Index was up 14.57 points to stand at 3252.54.

Safaricom, Kenya's leading telecom operator, was the day's biggest mover, trading 31 million shares valued at a high of 0.18 dollars to represent 70 percent of the day's traded value. Tuesday, the telecom had traded 9.9 million shares.

Power generator KenGen was the second best mover after exchanging 6.3 million shares valued at 0.06 dollars.

KenolKobil, a regional oil marketer, was the third best traded stock during the session after transacting 3.2 million shares at 0.13 dollars.

Barclays Bank and NIC Bank closed the list of the five most traded stocks after exchanging 1.5 million and 1.4 million shares respectively at 0.08 dollars and 0.25 dollars.

Foreign investors were net sellers during the session transacting mainly Safaricom, Engen and Equity Bank.

The bond market had securities worth 13 million dollars transacted compared to 10 million dollars registered in the previous session. Endit