Nairobi bourse dips on stifled foreign trading amid rise in key index

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Equity turnover at the Nairobi Securities Exchange (NSE) declined significantly on Monday to stand at 4.1 million U.S. dollars on a volume of 15 million shares as foreign investors kept off the bourse.

Some 141 million shares worth 25 million dollars had been traded at the securities market in the previous session.

Kenya Commercial Bank was the best traded stock after transacting 4.6 million shares at 0.36 dollars, a 2.7 percent decline.

Following the bank was Safaricom, with the leading telecom moving 3.4 million shares at a declined price of 0.22 dollars, a drop of 2.7 percent. Friday, the telecom moved 16 million shares.

Equity Bank was third with 1.4 million shares after going down 0.38 dollars, a decline of 2.6 percent while Kenya Airways moved 777,500 million shares to clock the fourth position. At the fifth position was HomeAfrika with 633,300 shares.

Foreign investors’ participation stood at 35 per cent down from 61 percent in the last session as locals dominated trading.

The NSE 20 Share Index closed Monday on an upward trajectory of 3,582.76, an increase of 41.41 points.

At the secondary bond market, turnover increased to 21 million dollars from 15 million dollars in the previous session. Enditem

Source: Xinhua/NewsGhana.com.gh

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