Kenya bourse turnover plummets as local investors dominate

Equity turnover at the Nairobi Securities Exchange (NSE) declined 51 percent on Thursday in a session dominated by local investors as foreigners kept off.

Turnover stood at 3.6 million U.S. dollars on a volume of 11 million shares, down from 7.6 million dollars on 31 million shares on Wednesday.

Local investors’ participation stood at 65 percent while foreigners, who usually do the bulk of the trading, contributed 35 percent. Both had 50 percent contribution on Wednesday.

The most traded counters were Kenya Commercial Bank, Safaricom, Kenya Power, Equity Bank and NIC Bank, moving 2.8 million, 2.7 million, 2 million, 569,800 and 515,900 shares respectively.

Top gainers were Uchumi, Sasini and the self-listed NSE while the losers were Mumias Sugar, National Bank and I&M Bank.

The NSE 20 Share Index declined marginally to end the day at 3,703.28, down from 3,707.29 of the previous session. On the other hand, the NSE All Share Index closed the day at 178.66, down from Wednesday’s 178.96.

On the bond market, turnover stood at 21 million dollars, an increase from 13 million dollars in the previous session.

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