Stock Market

Kenyan bourse turnover rises on Safaricom foreign sales

Turnover at the Nairobi Securities Exchange (NSE) rose to cross the 10 million U.S. dollars mark on Thursday.

Market turnover stood at 11 million dollars on a volume of 32 million shares, a 23 percent rise, from 9.6 million dollars from 33 million shares.

The most-traded stocks were Safaricom (23 million shares), Barclays Bank (1.8 million), Equity Bank (1.3 million), Kenya Commercial Bank (1 million) and Britam (838,300).

Foreign investors were mainly net sellers of Safaricom, with their participation standing at 71 percent, down from 82.4 percent on Wednesday.

However, despite the surge in turnover, the key indices declined. The indicative NSE 20 Share Index went down 17.32 points to close at 3,727.69 from 3,745.01 on Wednesday as various stocks fell. Similarly, the Nairobi All Share Index (NASI) declined to 183.68 from 184.85.

Turnover at the bonds section rose to 38 million dollars from 23 million dollars as the segment sustained a positive trend. Enditem

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