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Kenya's Bourse Turnover Surges on Safaricom, East African Breweries
 

Equity turnover at the Nairobi Securities Exchange (NSE) rose considerably on Wednesday as the market sustained growth after the end of repeat polls.

Turnover rose 63 percent to end the session at 12 million U.S. dollars from 37 million shares, up from 18 million worth 7.7 million dollars on Tuesday.

The trading was boosted by the sale of Safaricom and East African Breweries Ltd (EABL) shares, as foreign investors increased both sales and buys.

Safaricom, Cooperative Bank, Kenya Commercial Bank, EABL and Equity Bank accounted for 87 percent of the trading.

However, the most traded stocks were Safaricom, Cooperative Bank, KCB, Equity Bank and KenolKobil, which traded 13 million, 5.8 million, 5.2 million, 4.2 million and 2 million shares respectively.

Prices of various stocks, including Barclays Bank, KCB and Equity Bank, similarly rose by between 1 and 10 percent to lift the NSE 20 Share Index.

The NSE 20 Share Index gained 30 points to close at 3,759.67. On Tuesday, the index gained 54.78 points to cross above the 3,700-point mark.

The All Share Index (NASI), on the other hand, picked up 1.97 points or 1.22 percent to settle at 163.96.

Market capitalization, which measures shareholders'wealth, rose by 28 million dollars or 1.22 to settle at 24 billion dollars from slightly above 23 billion dollars in the previous session.


(www.chinaview.cn 2017-11-02)
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