NAIROBI, (Xinhua) -- Bond
trading at the Nairobi Securities Exchange (NSE) recorded a major rebound
Thursday to peak at 40 million U.S. dollars, a rise of 400 percent since Monday.
was the highest in recent times after hitting a low of 4 million dollars a day
last month. On Monday, bond trading stood at 8 million dollars before rising to
16 million dollars in the Tuesday session and Wednesday to 24 million dollars.
performing bonds during Thursday session were the IFB 1/2017/12Yr and IFB
1/2011/12Yr, with the former having been issued recently.
analysts, trading is vibrant at the market as investors seek to cash in on
government bonds, which the Central Bank cancelled following bids that were
beginning of the year, the Central Bank has cancelled the sale of at least two
Treasury bonds but sold them again in tap sales. All the bonds floated at the
debt market end up at the NSE bonds market where they are traded.
Yields on the
bonds range between 11 and 14 percent, which are higher than even those at the
debt market. The yield curve, according to analysts, has exhibited an increasing
upward trend, especially for one to five years tenure securities.
In 2016, bond
trading at the bourse hit over 4 billion dollars as investors had a good year,
with favourite bonds being FXD1/2016/2yr, FXD 1/2016/5yr, IFB 1/2016/9 yr,
FXD1/2012/010 and FXD 1/2013/5yr.
Nairobi bourse turnover up 181 pct on high
NAIROBI (Xinhua) --
Turnover at the Nairobi Securities Exchange (NSE) rose 181
percent on Thursday to hit 9.9 million U.S. dollars on a volume of 55 million
shares from 20 million worth 3.6 million dollars boosted by increased foreign
investors, whose participation stood at 92 percent and mainly buys, traded
mostly Safaricom and Equity Bank.
Kenya’s leading telecom operator, was the day’s top trader after moving a record
44 million shares at 0.16 dollars.
came in second with 4.9 million shares that traded at 0.26 dollars, an increase
of about 1 percent, while Kenya Commercial Bank followed third with 2.6 million
shares that went for 0.28 dollars, a rise of 6 percent.
A surge in
prices of several top stocks saw the NSE 20 Share Index go up 3.22 points to
stand at 2,951.15.
On the other
hand, the All Share Index (NASI) inched up 0.23 points to settle at 119.85 while
the NSE 25 Share Index was up 24.86 points to stand at 3,192.55.
market too witnessed improved activity with securities worth 40 million dollars
transacted compared to 24 million dollars posted the previous session.