Foreigners trading lifts Kenya's bourse equity turnover

NAIROBI, Dec. 6 (Xinhua) -- Equity turnover at the Nairobi Securities Exchange (NSE) nearly doubled on Wednesday on increased foreigners trading.

The turnover stood at 8.7 million dollars on a volume of 37 million from 16 million worth 4.5 million dollars.

Foreign participation ended at 72 percent from 57 percent on Tuesday as locals' input dropped to a paltry 28 percent.

The foreigners mainly went for leading telecom Safaricom shares, buying as much as they sold but overall, they were net sellers.

Safaricom, Kenya Commercial Bank (KCB), Kengen, East African Breweries Ltd and Equity Bank accounted for 88 percent of the total turnover.

The most traded counters were Safaricom, Kengen, KCB, Cooperative Bank and the NSE itself moving 19 million, 9.2 million, 2 million, 1.6 million and 1.1 million shares respectively.

The NSE 20 Share Index once again was on a downward trend declining 18 points to close at 3,751.10. This was a continuation from 34.44 points on Tuesday. The index was pulled down by the fall of Kenya Power, Equity Group and Britam.

On the other hand, the NSE All share Index (NASI) was up by 0.33 points to close at 173.63 points on Wednesday.

At the bond market, turnover went down by 15 percent to stand at 27 million dollars from 31 million dollars on Tuesday. Endtiem