Foreign sales lift Nairobi Bourse amid rise in key indices
NAIROBI (Xinhua) -- Boosted by increased foreign sales, a total of 32 million
shares worth 4.9 million U.S. dollars were traded at the Nairobi Securities
Exchange (NSE) Friday, up from 28 million worth 4.2 million dollars.
The NSE 20 Share Index went up 18 points to stand at 2,983.68 while the All
Share Index (NASI) rose to settle at 126.61 from 124.76 and the NSE 25 Share
Index was up to stand at 3,323.95 from 3,278.25.
KenKobil was day’s top trader after moving 13.1 million shares at 0.12
dollars, supplanting Safaricom from the top position.
Safaricom, Kenya’s leading telecom operator, was the second best traded stock
after moving 6.6 million shares at 0.17 dollars, a rise of 2 percent from 9.6
million shares Thursday.
Electricity-generator Kengen was the third best traded stock transacting 4
million shares from 7.5 million the previous day at unchanged price of 0.06
Kenya Commercial Bank (KCB), on the other hand, moved 3.3 million shares at a
high of 0.30 dollars to close the day as the fourth best trader while NSE closed
the top five list with 1.6 million shares at 0.11 dollars.
Foreign investors’ participation stood at 83 percent and they traded mainly
Safaricom, KCB and East African Breweries Ltd shares.
Bad week for Kenya shilling as it closes
low against US dollar
NAIROBI (Xinhua) -- The
Kenya shilling declined Friday against the U.S. dollar to close the day below
the 103 mark following increased pressure from oil importers.
The Central Bank of Kenya quoted the shilling at 103.03 at the close of
Friday, the lowest level in recent weeks.
However, according to commercial banks, the shilling traded at between 102.95
and 103.05 to the dollar, on Friday.
The Friday decline of 0.13 percent was a continuation from Thursday where the
local unit went down by 0.08 percent.
Similarly, the shilling lost ground against the British pound, with the
Kenyan currency going down 1.3 percent on Friday to stand at 127.23. It has been
a bad week for the shilling as it went down during the entire period.
On Tuesday, it fell against the pound by 0.49 percent to close the day at
125.56 while on Wednesday, the shilling stood at an average of 125 after
levelling against the British pound.
Analysts noted that Kenya’s Central Bank may slightly tighten monetary policy
when it meets end of this month to prevent further weakening of the local
currency and counter the looming rise in the U.S. Federal Reserve rate, which is
expected to further hit the shilling.