Nairobi Securities Exchange
Nairobi Securities Exchange

Local investors dominated trading at the Nairobi Securities Exchange (NSE) on Friday, pushing up equity turnover marginally ahead of the Aug. 8 elections.

The investors’ participation stood at 64 percent as their foreign counterparts kept away as election fever hits the bourse.

Turnover rose 10 percent to 8.4 million U.S. dollars on Friday on a volume of 29.3 million shares from 43 million worth 7.6 million dollars on Thursday.

Similarly, the benchmark 20 Share Index went up marginally to close the week at 3,775.89 from 3,773.52, sustaining a positive trend witnessed in the Thursday session.

Safaricom, Kenya’s leading telecom, was the best traded stock after moving 10.6 million shares at unchanged price of 0.24 dollars.

NIC Bank took the second spot after trading 5.7 million shares at 0.32 dollars, a decline of 1.6 percent, followed by Kenya Power which traded 2.7 million shares at 0.08 dollars.

At the bond market, turnover rose five times to 20 million dollars, up from 4 million dollars in the previous session. Enditem

Source: Xinhua/Newsghana.com.gh