Nairobi bourse equity turnover declines, local investors dominate trading

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Nairobi Securities Exchange
Nairobi Securities Exchange

Turnover at the Nairobi Securities Exchange (NSE) went down 50 percent to stand at 7 million U.S. dollars on a volume of 29 million shares down from 53 million shares worth 16 million dollars, with the session mainly dominated by local investors.

However, despite decline in turnover, the NSE 20 Share Index closed Wednesday higher at 3,608.15 from 3,600.01, as it sustained an upward trend.

Similarly, Nairobi All Share Index ended the day at a new high of 153.23 from 152.72 in the previous session.

Safaricom, Kenya’s leading telecom, was the best traded stock after transacting 10 million shares at unchanged price of 0.22 dollars.

Following the telecom was Cooperative Bank with some 6.3 million shares at unchanged price of 0.17 dollars while Carbacid was third with 2.2 million shares.

Mumias Sugar moved 1.4 million shares, mainly sales, to clock the fourth position while at the fifth position was Barclays Bank with 1.2 million shares.

Foreign investors’ participation stood at 44 percent while local investors dominated the Wednesday’s session with 56 percent trading.

At the secondary bond market, turnover similarly declined to 16 million dollars from 21 million dollars in the previous session. Enditem

Source: Xinhua/NewsGhana.com.gh

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