Nairobi bourse key index hits 3,600 points, over a year high

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Nairobi Securities Exchange
Nairobi Securities Exchange

A surge in prices of various large stocks Tuesday pushed the Nairobi Securities Exchange (NSE) 20 Share Index to cross the 3,600 point mark, over a year high.

The benchmark index gained 17.3 points to close the day at 3,600.01 points from 3,582.76 in the previous session.

Kenya Commercial Bank (KCB), Kengen, KenolKobil and Equity Group are among stocks that helped lift the key index up.

Similarly, equity turnover rose 296 percent, boosted by a huge rise in foreign trading.

The foreign investors’ participation stood at 23 percent from 35 percent in the last session, with the traders increasing sales by 237 percent and buys by 55 percent.

Turnover stood at 16 million U.S. dollars on a volume of 53 million shares from 15 million worth 4.1 million dollars.

Safaricom, Kenya’s leading telecom, was the top traded stock after moving 16.5 million shares at a declined price of 0.22 dollars.

Coming second was KCB with 1.4 million shares at an increased price of 0.39 dollars while Barclays Bank followed with 965,700 shares.

At number four was Flame Tree Group with 945,900 shares while Mumias Sugar closed the list with 732,500 shares.

At the secondary bond market, turnover remained flat at 21 million dollars on Tuesday as in the previous session. Enditem

Source: Xinhua/NewsGhana.com.gh

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