Kenyan bourse posts highest turnover as stocks recover

NAIROBI, Sept. 17 (Xinhua) — The Nairobi Securities Exchange (NSE) on Thursday recorded the highest turnover in the year, pointing to recovery after months of sustained decline in trading battered by the COVID-19 pandemic.

The securities market posted a 583 percent increase in turnover to 3.76 billion shillings (34.8 million U.S. dollars), up from 5 million dollars on Wednesday.

The number of shares traded increased to 123.6 million up from 17 million shares traded on Wednesday.

"The positive performance has been driven by growing foreign investors’ demand for listed equities in the Kenyan market. The value of shares bought by foreign investors settled at 31 million dollars, a 572 percent rise from the previous session," said the NSE in a statement on Thursday.

Equally, the bond market recorded an impressive performance, recording a turnover of 12 million dollars.

"Today’s performance is a testament of improving investor sentiments as listed securities in our market continue to show impressive recovery amid the pandemic," said NSE chief executive officer Geoffrey Otieno Odundo. Enditem

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