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Nairobi Bourse turnover drops on low Safaricom trading

NAIROBI (Xinhua) -- Equity turnover at the Nairobi Securities Exchange (NSE) declined to 8.5 million U.S. dollars Tuesday on a volume of 28 million shares from 89 million worth 17 million dollars posted in the previous session.

The drop in turnover was attributed to poor performance of Safaricom, which transacted 18 million shares on Tuesday, down from 76.4 million shares on increased foreign trading last Thursday.

Kenya Commercial Bank (KCB) was the best traded stock Tuesday moving 11.5 million shares at 0.33 dollars, an increase of 1.5 percent.

The stock was followed by regional oil marketer KenolKobil which traded 6.7 million shares at unchanged price of 0.12 dollars.

Equity Bank came third with 3.3 million shares at 0.31 dollars, a drop of 3.8 percent from the previous session.

At position four was CFC Insurance after moving 1.9 million shares at 0.61 dollars, a surge of 5.3 percent while Safaricom closed the list of the best traded stocks.

The benchmark NSE 20 Share Index stood at 3,101.89 points from 3,102.71 while the All Share Index (NASI) ended at 133.50 from 135.08.

There was improved activity at the bond market with transactions going up 310 percent to stand at 13 million dollars from 3 million dollars the previous session.


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