Kenya’s bourse rises as market weathers political storm


Major indices of the Nairobi Securities Exchange (NSE) went up on Wednesday as the market seemingly weathered uncertainty created by repeat of presidential elections scheduled for Oct. 17.

Since Friday last week, when the Supreme Court nullified President Uhuru Kenyatta’s win on Aug. 8, the bourse has been on a downward trend with the NSE 20 Share Index losing some 200 points in two trading days while investors’ wealth denoted by market capitalization declined by about 1.3 billion dollars.

Turnover on Wednesday, however, stood at 16 million U.S. dollars, up from 7 million dollars on Tuesday.

The NSE 20 Share Index added 16.89 points to stand at 3,786.92 rising for the first time after decelerating in three trading session. The NSE 25 Share Index was up 11.76 points to stand at 4,261.88.

The top traded stock at the bourse was Kenya’s leading telecom Safaricom, which moved 36 million shares at unchanged price of 0.24 dollars. Enditem

Source: Xinhua/

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