Kenyan stocks surge, defying election quakes

Source: Xinhua| 2017-08-12 00:18:04|Editor: huaxia
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NAIROBI, Aug. 11 (Xinhua) -- Kenyan stocks rose on Friday pushing the key indices and turnover up in a performance that resisted economic shivers resulting from a disputed presidential poll.

The Nairobi Securities Exchange (NSE) 20 Share Index increased 73.69 points or 2 percent to close at 3,976.98, a two-year high, as it gained 201.09 points in total during the week.

On Thursday, the NSE 20 Share Index rallied 1.4 percent or 53 points to settle at 3,903.29, hitting a 15-month high. Similarly, on Wednesday, the index rose 31.86 points to stand at 3,850.13.

Analysts noted the equities climb was the highest since 2015 as investors relished the peaceful electoral process in Kenya.

The NSE All Share Index similarly rallied 1.6 percent to close at 165.00 points, an over two-year high, from 162.74 in the previous session.

On the other hand, turnover rose 581 percent to close Friday at 14 million U.S. dollars on a volume of 48 million shares from 8.3 million worth 2 million dollars in the previous session.

The trading session was dominated by foreign investors whose performance stood at 86 percent, with the traders mainly making purchases.

At least 15 stocks went up by between 0.1 percent and 10 percent led by HomeAfrika (10 percent), National Bank of Kenya (10 percent) and Kenya Power (9.5 percent).

Safaricom, Kenya's leading telecom was the most traded stock after trading 19 million shares at 0.24 dollars. Enditem

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