Bear run wipes out turnover, key index down at Kenyan bourse

stock market
stock market

Turnover at the Nairobi Securities Exchange (NSE) more than halved on Thursday as the key index hurtled below the psychological 3,400 points.

Some 30 million shares were traded on Thursday, down from 51 million shares, with turnover standing at 4.9 million U.S. dollars from 10 million dollars on Wednesday.

The top traded stocks were Athi River Mining (7.6 million), Safaricom (7.6 million), Kenya Commercial Bank (2.2 million), Cooperative Bank (2.1 million) and Kenya Power (1.4 million) shares.

The NSE 20 Share Index upheld a downward trend declining 26.67 to close the day at 3,406.89 from 3,433.56.

On the other hand, the NSE All Share Index declined to close at 176.56 from 177.04 while the 25 share index went down to 4,562.29 from 4,587.73.

Top losers included Car and General (10 percent), Athi River Mining (9.5 percent), Mumias Sugar (6.7 percent) and HomeAfrika (5.7 percent). Enditem

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