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Kenya's benchmark stock index hits over 3,000 points

Xinhua, February 23, 2017 Adjust font size:

Kenya's Nairobi Securities Exchange (NSE) 20 Share Index gained 26 points to close Thursday above the psychological 3,000 points mark.

The benchmark index stood at 3,009.19 points, the highest level in recent weeks, after hitting a low of about 2,700 points following a bear-run that eroded the value of most large stocks.

Similarly, the All Share Index (NASI) edged 0.54 points higher to stand at 125.93 while the NSE 25 Share Index added 27.02 points to stand at 3,279.56.

However, despite rise in the key indices, the market turnover slumped 60 percent to stand at 3.1 million U.S. dollars on a volume of 13 million shares from 49 million shares worth 7.9 million dollars on Wednesday.

Safaricom, Kenya's leading telecom operator, was the day's biggest mover, trading 6.9 million shares from 31 million shares at unchanged price of 0.18 dollars. The shares were valued at 1.2 million dollars.

The rest of the stocks in the top five list namely CFC Stanbic, Kenya Commercial Bank (KCB), HomeAfrika and Kenya Airways did not trade more than a million shares.

CFC moved 851,100, KCB 842,200, HomeAfrika 830,500 and Kenya Airways 740,400 shares.

The bond market had securities worth 11 million dollars transacted compared to 13 million dollars registered in the previous session. Endit