Kenya's bourse slumps amid decline in foreign trading

2017-09-13 21:56:09 GMT2017-09-14 05:56:09(Beijing Time) Xinhua English

NAIROBI, Sept. 13 (Xinhua) -- Trading at the Nairobi Securities Exchange (NSE) slumped on Wednesday, with all the key indicators going down as foreign investors cut trading.

The NSE 20 Share Index declined 44 points to stand at 3,805.24 reversing a positive trend recorded in the past three sessions. On the other hand, the All Share Index (NASI) ended 2 points lower to stand at 164.17.

Similarly, turnover declined to 6.4 million dollars from the previous session's 11 million dollars, with the number of shares traded standing at 23 million shares against 32 million on Tuesday.

Market capitalization, which measures shareholders' wealth, declined with a huge margin, dropping to close the session at 23 billion dollars from 24 billion dollars reflecting decline in stock prices.

Foreign investors' participation, on the other hand, declined to 44 percent from 74 percent in the Tuesday session, as the traders cut both sales and buys.

Safaricom, Kenya's leading telecom, was the most actively traded share after moving 10 million shares valued at 0.25 dollars, a decline of 3 percent.

Other top traded counters were Equity Bank, Kenya Power, TPS East Africa and Home Afrika moving 3.6 million, 2.8 million, 1.4 million and 1.1 million shares respectively.

Bond turnover rose by 14.3 percent to stand at 24 million dollars from 21 million dollars on Tuesday.

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