NAIROBI, Oct. 13 (Xinhua) -- Turnover at the Nairobi Securities Exchange (NSE) rose 226 percent Friday as foreign investors dominated the trading session.
It was a major comeback for the market, which had on Thursday fallen to a new low, hit by unending political stalemate in the East African nation.
On Friday, the turnover stood at 8.4 million U.S. dollars on a volume of 25 million shares, up from 12 million worth 2.5 million dollars.
Foreign investors contributed 80 percent of the traded volume, an increase from 71 percent in the previous session. The traders bought as much as they sold indicating renewed confidence in the Kenyan bourse.
Safaricom, Kenya's leading telecom, was the most traded stock as it attracted both foreign purchases and sales. The telecom traded 12 million shares at unchanged price of 0.24 dollars.
It was followed by Kenya Commercial Bank that moved 8 million shares and Equity Bank that came third with 1.7 million shares.
Despite the increased trading, the benchmark NSE 20 Index shed 14 points to close the trading at 3,626.62 as the bond market went up to 8 million dollars from 6 million dollars. Enditem
