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Foreign sales lift Nairobi Bourse with impressive rise in key indices

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 dollars.

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.



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