NAIROBI (Xinhua) -- Nairobi
Securities Exchange (NSE) 20 Share Index on Wednesday gained a record 39 points,
moving towards the 3,800 mark as prices of various top stocks rose.
index ended the day at 3,768.38 from 3,729.81 on Tuesday boosted by rise in
prices of Safaricom, East African Breweries Ltd, Kenya Power and British
At least 10
stocks that make up the 20 Share Index went up during the Wednesday trading
equity turnover declined as some 27 million shares valued at 7.7 million dollars
were traded, down from 43 million shares worth 12 million dollars in the
Kenya’s leading telecom was the top traded stock moving 11 million shares at
0.24 dollars, a 1.1 percent rise. Tuesday, the telecom moved 18.1 million
firm Britam was the second most transacted stock after moving 8.1 million shares
at unchanged price of 0.13 dollars.
followed with 2.6 million shares going up marginally to close at 0.08 dollars
while Kenya Commercial Bank came fourth with 1.4 million shares at 0.39 dollars.
insurance firm, moved 1.1 million shares at 0.23 dollars to close the list of
the most traded stocks during the session.
The NSE All
Share Index closed the day at 158.35 from 157.05 as it also sustained an upward
Kenya shilling falls on
surge in dollar outflows
NAIROBI (Xinhua) -- The Kenya
shilling started the week lower on Monday, weakening against the U.S. dollar as
outflows outweighed inflows.
exchanged against the dollar at an average of 103.86, a decline from 103.84 at
the end of last week.
Bank on Monday quoted the shilling at 103.87, down from 103.84 on Friday, with
the currency sliding despite the regulator selling dollars to buttress it.
On the other
hand, commercial banks put the value of the shilling against the dollar at
between 103.85 and 104.05, with traders noting there was high dollar demand from
various sectors, including manufacturing and oil.
latest data showed that the Central Bank used 88 million dollars to support the
shilling as forex reserves fell from 5.23 months of import cover to 5.17 months
of import cover.
shilling last week remained stable mainly driven by Central Bank support,
inflows from horticulture exporters, which offset the dollar demand by oil
noted that shilling would remain relatively stable in the short term, boosted by
CBK’s support as can be seen by the decline in the forex reserve levels. On a
year to date basis, the shilling has depreciated against the dollar by 1.4