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Large stocks record gains at Nairobi bourse

Xinhua, May 18, 2017 Adjust font size:

Nairobi Securities Exchange (NSE) turnover went down 36 percent Thursday to 8.2 million U.S. dollars from 33 million shares, a decline from 48 million worth 12 million dollars in the previous session.

But despite the decline, a number of large stocks led by Safaricom, Cooperative Bank and Kenya Commercial Banks recorded significant gains in their prices.

At least prices of 10 stocks went up, with Equity Bank and East African Breweries recording the highest gains of between 3.5 and 4.5 percent.

Safaricom, Kenya's leading telecom, remained the top traded stock after moving 20.1 million shares at 0.20 dollars, an increase of 1.3 percent. Wednesday, the telecom moved 12 million shares.

Cooperative Bank was the second top traded stock, after moving 3.1 million shares at 0.16 dollars, a 0.4 percent high.

KCB, on the other hand, sustained an upward trend trading 2 million shares at a new high of 0.38 dollars, a 3.4 percent surge.

At number four was retail outlet Uchumi, which moved 1.5 million at 0.02 dollars while KenyaRe came fifth with 1.2 million shares.

Following the surge in share prices of top stocks, the NSE 20 Share Index closed the day at a new high. Endit