Kenya's bourse key indices retreat over political gloom

Source: Xinhua| 2017-10-12 01:15:26|Editor: huaxia
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NAIROBI, Oct. 11 (Xinhua) -- All the key indices of the Nairobi Securities Exchange (NSE) retreated in Wednesday trading by at least 1 percent as uncertainty hang over the Oct. 26 repeat polls.

Opposition leader Raila Odinga on Tuesday withdrew from the polls, plunging the country into a deeper political crisis.

The NSE 20 Share Index declined 1.14 percent or 52 points to end the day at 3,644.80 while the All Share Index dropped 1.24 percent or 1.07 points to close at 159.78.

Similarly, the NSE 25 Share Index declined 43.71 points to close at 4,143.75.

However, amid the decline equity turnover rose to 8 million U.S. dollars on a volume of 20 million shares down from 8 million worth 2 million dollars.

Most of the trading involved sales as cautious investors mainly foreigners offloaded their shares, with the political uncertainty weighing on the market.

Some 26 shares at the bourse dropped as a paltry 11 gained by minimal margins.

Safaricom, Kenya's leading telecom, was the top trader after moving 11 million shares at unchanged price of 0.24 dollars.

It was followed by Athi River Mining at 3 million shares and Equity Bank at 2 million shares while Cooperative Bank and HomeAfrika followed closely with 705,400 and 469,600. Enditem

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