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Kenya’s bourse key index hits new high of 3,700 points

NAIROBI (Xinhua) -- Nairobi Securities Exchange (NSE) benchmark index crossed the 3,700 mark to hit over a year high, boosted by rise in prices of large stocks.

The NSE 20 Share Index ended the day at 3,700.44 from 3,683.24 in the previous session pushed up by an increase in prices of Kenya Commercial Bank (KCB), KenGen and Safaricom, among others.

Equity turnover similarly rose 19 percent to 7 million U.S. dollars on a volume of 30 million shares from 22 million worth 5.9 million dollars in the previous session.

KCB retained the best traded stock spot stock after moving 5.1 million shares down from 6.7 million shares at 0.40 dollars, a rise of 0.6 percent.

Cooperative Bank moved 4.9 million shares at unchanged price of 0.14 dollars to close the day at the second spot.

Electricity generator KenGen was third after moving with 3.9 million shares traded at 0.07 dollars after going up 1.3 percent.

Safaricom, Kenya’s leading telecom for the third consecutive trading session was supplanted from the top spot.

The telecom, which is usually the best traded stock at the bourse, moved 2.8 million shares, a rise from 2.2 million in the previous session at unchanged price of 0.23 dollars, a 2.2 percent rise to clinch the fourth spot.

Insurance firm KenyaRe moved 2.5 million shares at 0.21dollars, an increase 5 percent to close the list of top five stocks.

At the bond market, turnover declined to 13 million dollars from the previous day’s 15 million dollars.



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