Kenyan bourse benchmark index sustains rally

stock market
stock market

The Nairobi Securities Exchange (NSE) benchmark index maintained a rally on Wednesday boosted by rise in prices of selected top stocks.

The NSE 20 Share Index ended the day at 3,830.94 points, a rise of 13.90 points from the previous session. On Tuesday, the index rose 7.18 points after reversing a negative trend.

Some of the large capitalization stocks that pushed up the index by gaining included Safaricom (0.8 percent), Nation Media Group (1 percent) and Standard Chartered (2 percent), among others. At least 12 stocks that make up the index rose.

Similarly, equity turnover rose to stand at 7.6 million U.S. dollars from 15 million shares from 6.9 million dollars on a volume of 20 million shares on Tuesday.

The most traded stocks were Safaricom, Kenya Commercial Bank, Equity Bank, Stanlib Fahari and East African Breweries Ltd moving 6.1 million shares, 1.5 million shares, 1.4 million shares. 1.13 million shares and 1.1 million shares respectively.

At the bond market, turnover declined to 12 million shares on Wednesday from 16 million shares in the previous session. Enditem

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