stock market
stock market

Trading at the Nairobi Securities Exchange (NSE) slowed down Thursday amid decline in the benchmark index and turnover as foreigners cut input.

Equity turnover dropped 5 percent to 8.5 million U.S. dollars on a volume of 23 million shares from 27 million worth 8.5 million dollars in the previous session.

Similarly, the NSE 20 Share Index declined to 3,804.69 from 3,825.47, pushed down by decline in prices of selected large stocks.

Only six stocks that make up the index rose while the rest declined or remained unchanged. However, the NSE All share Index (NASI) rose marginally by 0.19 points to close at 172.92 points.

Safaricom, Equity, Kenya Commercial Bank (KCB), East African Breweries Ltd and British American Tobacco accounted for 82 percent of the total turnover.

However, the most traded counters were Safaricom, Equity Bank, KCB, Kenol and Cooperative Bank moving 7.1 million, 3.8 million, 3.1 million, 2.8 million and 1.7 million shares re­spectively.

Foreign participation declined to 65 percent from 76 percent in the previous session while local participation stood at 35 percent. The foreigners were net buyers.

At the bond market, turnover rose 9.1 percent to a record high to end the day at 30 million dollars from the previous session’s 28 million dollars. Enditem

Source: Xinhua/NewsGhana.com.gh

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