Telco enjoys strong week at Nairobi Securities Exchange

godfred akoto

November 20, 2017 9:33 AM

Kenya Commercial Bank was the top mover on the back of active foreign buying, going up 0.6 percent to close at 0.41 dollars.

Safaricom ended its week at the Nairobi Securities Exchange on a high after closing on trading at 26.00 with a share volume of 2,366,700 on the back of heavy foreign participation.

The telco has stayed strong amid a call for a boycott of its services from the NASA political party, losing just a fraction of its value at the bourse.

The NSE 20 Share was down 0.3 percent to close the week at 3,730.15, reversing an upward trend witnessed in the last two session. On the other hand, the NSE All Share Index was up 0.4 percent to close the 163.13.

Foreign investor participation stood at 55 percent compared to Thursday's 47 percent, with the traders accounting for 65 percent of total buying and 46 percent of total selling.

East African Breweries Ltd recorded the highest net foreign outflows, going down 1.3 percent to close at 2.3 dollars.

National Bank was among the top gainers, as it rose 5.2 percent in Friday's session to close at 0.10 dollars, although at thin volumes. Athi River Mining Cement was among the top decliners, down 2.6 percent to close at 0.13 dollars.

Bond market turnover went up by 26 percent to stand at 11 million dollars from 9 million dollars in the previous session.

godfred akoto