Nairobi bourse up on increased foreign trading

Nairobi Securities Exchange (NSE) turnover rose 123 percent on Tuesday to 32 million shares valued at 6.4 million U.S. dollars from the previous session's 15 million worth 2.9 million dollars on improved foreign trading.

Foreign investors' participation stood at 75 percent, with the traders assuming a net buying position by accounting for 88 percent of total market purchases and 79 percent of sales.

Safaricom, Kenya Commercial Bank (KCB) and British American Tobacco attracted the most trading from foreigners.

Safaricom, Kenya's leading telecom was the top trader accounting for 75 percent of the day's traded value after moving 26.2 million shares at a declined price of 0.18 dollars, a drop of 0.8 percent.

KCB came in second with 2.2 million shares valued at unchanged price of 0.34 dollars while at the third spot was Barclays Bank with 1.8 million shares moved at a declined price of 0.07 dollars.

Cooperative Bank and Housing Finance closed the list of top traded stocks but exchanged at a paltry 453,900 and 317,900 shares.

The NSE 20 Share Index declined 0.3 percent or 9.38 points to close at 3,096.83 while NASI Index declined by 0.24 percent or 0.31 points to close at 131.19. The NSE 25 Share Index was down 1.35 points to stand at 3,482.44.

The bond market turnover gained marginally to register 18 million dollars from 12 million dollars in the previous session. Endit