Turnover surges on Kenya's bourse despite rising political temperature

Source: Xinhua| 2017-09-27 02:12:39|Editor: yan
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NAIROBI, Sept. 26 (Xinhua) -- Equity turnover at the Nairobi Securities Exchange (NSE) rose considerably on Tuesday, lifted by vibrant trading of Kenya's leading telecom operator Safaricom.

Some 36 million shares worth 9 million U.S. dollars were traded at the securities market, up from 11 million shares worth 2.5 million in Monday's session, as the market braved rising political temperatures in the country.

Opposition National Super Alliance and ruling Jubilee Party supporters on Tuesday protested in the capital Nairobi against and for electoral reforms respectively ahead of the Oct. 26 repeat polls, leading to disruption of business.

Safaricom traded 16 million shares at a new high of 0.26 dollars to top the list of most traded stocks. On Monday, the telecom firm moved 7 million shares.

Following in the positive direction was Britam, which moved 14 million shares at an unchanged price of 0.14 dollars.

Kenya Commercial Bank and Cooperative Bank came third and fourth respectively after trading 2 million and 1 million shares but at declined prices. Insurance firm KNRE closed the list of most traded stocks by moving 565, 800 shares.

The NSE 20 Share Index was down to 3,733.04 points from 3,750.35 in the previous session while the NSE All Share Index (NASI) close at 166.02 from 165.72 points.

The NSE 25 Share Index, on the other hand, ended on a low of 4,331.65, down from 4,335.54.