Nairobi bourse edge up on increased foreign trading

Turnover at the Nairobi Securities Exchange (NSE) rose 144 percent to 5.7 million U.S. dollars on a volume of 29 million shares from 13 million worth 2.3 million dollars during the previous session boosted by increased foreign investors' participation.

The foreigners, whose participation stood at 94 percent from 67 percent in the previous session, sold as much as they purchased, mainly going for Safaricom, East African Breweries Ltd and Kenya Commercial Bank (KCB).

Safaricom, Kenya's leading telecom, was the day's best trader after moving 21 million shares but at a declined price of 0.16 dollars. On Wednesday, the telecom moved 3 million shares.

Power-generator Kengen was the second top mover after trading 2.1 million shares at unchanged price of 0.05 dollars.

KCB and Equity Bank came in third and fourth respectively, transacting 1.4 million and 1.1 million shares respectively, each at reduced price of 0.25 dollars.

Deacons closed the list of top five best traders after moving a million shares at 0.04 dollars, a drop of 7 percent.

The robust trading saw the NSE 20 Share Index edge up 2.96 points to stand at 2,969.12, a positive turn after going down in the last two sessions.

The bond market had securities worth 11 million dollars transacted compared to 25 million posted the previous session.

Source: Xinhua