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Low foreign trading pushes down Nairobi bourse

Xinhua, April 3, 2017 Adjust font size:

Some 15 million shares worth 2.9 million dollars were traded at the Nairobi Securities Exchange (NSE) Monday, down from 19 million valued at 4.7 million dollars the previous trading day as foreign investors slowed down trading.

Safaricom was the most traded stock moving 11.3 million shares at unchanged price of 0.18 U.S. dollars. The stock attracted the most foreign purchases and sales, but other top buys were Equity Bank, East African Breweries Ltd and the Cooperative Bank.

Oil marketer KenolKobil was the second most active stock as it exchanged 1.3 million shares at 0.12 dollars, a decline of 0.3 percent. The stock, however, was mainly traded by local investors.

Equity Bank, Uchumi Supermarket and Barclays Bank were the other top five traded stocks but they did not trade more than a million shares.

The NSE 20 Share Index went down for the third consecutive trading session to 3,106.21 Monday after peaking at 3,128.44 on March 29 while the All Share Index closed higher at 131.50 from 130.61.

The bond market witnessed a rise in activity with bonds worth 12 million dollars transacted compared to 8 million registered the previous session. Endit