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Kenya's Bourse Surges on Foreigners' Confidence After Polls-Oct 31
 

Nairobi Securities Exchange (NSE) key indices and turnover rose on Tuesday, sustaining a positive trend on the second day after the conclusion of repeat elections.

The NSE 20 Share Index amassed 54.78 points on Tuesday or 1.5 percent to cross above the 3,700-point mark. The index ended the day at 3,729.62, with the surge adding to the 26.53 points it gained Monday.

The indicative index was pushed up by rise in prices of at least 15 large stocks in particular Kenya Airways (9 percent), Safaricom (4 percent), Equity Group (5.5 percent) and BAT (6 percent).

Foreign participation stood at 78 percent with the investors mainly being net buyers unlike the previous weeks before elections, a sign of renewed confidence in the market.

As on Monday, Kenya Commercial Bank was the top traded stock after moving 5 million shares at 0.38 U.S. dollars.

Safaricom, Kenya's leading telecom, followed at 3.3 million traded at 0.25 dollars, a 1-percent rise.

HomeAfrika, East African Breweries and KenGen were the third, fourth and fifth stocks after moving 1.7 million, 1.2 million and 1.1 million shares respectively.

Turnover went up to stand at 7 million dollars on a volume of 18 million shares, from about 2.9 million dollars on a volume of 10 million shares in the Monday session.


(www.chinaview.cn 2017-11-01)
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