Nairobi bourse turnover surges on foreign buys
Equity turnover at the Nairobi Securities Exchange (NSE) on Monday surged 123 percent to 10 million U.S. dollars, boosted by a rise in foreign purchases.
Safaricom, Equity Bank, East African Breweries Ltd, NIC Bank and Centum accounted for 93 percent of the total turnover.
The most traded counters, however, were Safaricom, Equity Bank, NIC Bank, Centum and Kenya Commercial Bank moving 20 million, 6.5 million, 1 million, 700,000 and 500,000 respectively.
However, most of the large stocks remained flat or went down like Athi River Mining and Uchumi to push the benchmark 20 Share Index slightly down.
The NSE 20 Share Index decreased 24.28 points to close at 3,815.71 points, with the indicator reversing a positive trend witnessed in the last three sessions.
On the other hand, the NSE All share Index (NASI) was up 0.67 points to close at 166.32 points while market capitalization, which measures shareholders wealth, rose to 24.4 billion dollars from 24.1 billion dollars.
Foreign participation during the session stood at 74 percent while local 26 percent and at the bond market, turnover declined 40 percent to stand at 17 million dollars.