Kenya's bourse turnover subdued as all indices fall

0 Comment(s)Print E-mail Xinhua, October 7, 2017
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by Bedah Mengo

NAIROBI, Oct. 6 (Xinhua) -- Trading at the Nairobi Securities Exchange (NSE) remained subdued Friday and the key index recorded decline as the market ended week on a low.

Market turnover stood at 2.2 million U.S. dollars on a volume of 10.3 million shares, compared with 9.7 million worth 2.5 million dollars in previous session.

Kenya's leading telecom Safaricom, Athi River Mining (ARM) Cement, Diamond Trust Bank, CFC insurance and East African Breweries Ltd accounted for 85 percent of the total turnover.

However, the most traded counters were Safaricom, ARM, Mumias Sugar, KenolKobil and Equity Bank moving 5.1 million, 2.1 million, 1 million, 300,000 and 200,000 shares respectively.

On the other hand, the NSE 20 Share Index was down 9.29 points to close at 3,693.22 points while the NSE All share Index (NASI) was down by 0.26 points to close at 160.71 points.

Similarly, shareholders' wealth, measured by market capitalization, was down 1.5 percent to end the week at 23 billion dollars. Foreign investors' participation stood at 65 percent and local participation stood at 35 percent.

According to the Central Bank, the equity market segment reported declines across all its leading indicators. The institution blamed the decline in performance to continued uncertainty as the country awaits presidential elections on Oct. 26. Enditem

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