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Kenya’s bourse on a rally lifted by local investors

NAIROBI (Xinhua) -- Nairobi Securities Exchange (NSE) turnover and the key index were on a rally Wednesday boosted by local investors.

Equity turnover went up 109 percent to close the day at 23 million U.S. dollars on a volume of 135 million shares up from 35 million worth 11 million dollars.

The NSE 20 Share Index, on the other hand, ended the session at 3,632.80, an increase of 32 points from the previous level.

Local investors’ participation during the session stood at 76 percent with the foreigners, who cut both sales and purchases, accounting for 24 percent of trading.

Insurance firm Britam was the most traded stock, moving 104 million shares at 0.15 dollars, a 9 percent rise. The share was mainly traded by local investors.

Safaricom, Kenya’s leading telecom came second with 17 million shares transacted at unchanged price of 0.23 dollars.

At the third spot was Scangroup which moved 5.6 million shares while Kenya Re, an insurance firm, and Cooperative Bank closed the list of the five most traded stocks during the session by moving 1.8 million and 1.5 million shares respectively.

At the secondary bond market, turnover dropped from 34 million dollars to 24 million dollars while the NSE All Share Index closed the day at 152.56 from 152.19.



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