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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenya’s stocks fall as presidential poll
petition hearing enters day two

NAIROBI (Xinhua) -- Nairobi Securities Exchange (NSE) key indices plunged on Tuesday following the decline of prices of various stocks as hearing of a petition challenging the election of President Uhuru Kenyatta continued at the Supreme Court.

The NSE 20 Share Index was down 46.92 points to close at 4,042.08 points while the NSE All share Index (NASI) declined 0.72 points to close at 172.75 points. A total 17 stocks that make the 20 share index declined, resulting in the huge drop.

Foreign participation stood at 40 percent and local 60 percent. While this was a marginal improvement from 30 percent and 70 percent respectively, foreign investors kept off the bourse.

Safaricom, East African Breweries Ltd, Kenya Commercial Bank (KCB), Kenya Power and Equity Bank accounted for 76 percent of the day’s total turnover.

However, the most traded counters were Safaricom, Kenya Power, Cooperative Bank, Barclays Bank and KCB moving 13.5 million, 5.5 million, 2.3 million, 2 million and 1.6 million shares respectively.

Turnover rose to 8.5 million U.S. dollars on a volume of 34 million shares from 13 million worth 3.7 million dollars posted yesterday.

At the bond market, turnover went up 135 percent to stand at 19 million dollars from 8 million dollars posted in the previous session.

             

 

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