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Markets

Turnover at the NSE doubles to Sh5.47bn

A Nairobi Securities Exchange (NSE) staff monitors electronic trade. FILE PHOTO | NMG
A Nairobi Securities Exchange (NSE) staff monitors electronic trade. FILE PHOTO | NMG 

Turnover at the Nairobi Securities Exchange (NSE) #ticker:NSE doubled to Sh5.47 billion last week with Equity Bank’s stock the most traded.

The traded turnover rose from 2.33 billion the previous week, mostly because of the Equity stock which accounted for 38 per cent of shares traded during the week.

On Thursday, Equity moved 68.6 million shares on a block trade by a local investor, with the session alone accounting for 57 per cent of the week’s traded turnover.

The total number of shares traded at the market during the week stood at 186.3 million.

“Equity turnover soared 454.3 per cent to Sh3.12 billion on Thursday— an all-time high for a single session.  On a local block trade, activity was mainly dominated by Equity Bank which accounted for a staggering 82.4 per cent of total turnover,” said Standard Investment Bank in a market report on Thursday.

Even as turnover soared however, the main indices ended week flat. The NSE 20 share index shed just three points to close the week at 3604 points, while the NSE All Share Index was down 0.7 points to end the week at 152.2 points.

Top blue chip counters such as Safaricom #ticker:SCOM, EABL #ticker:EABL, KCB #ticker:KCB and Equity #ticker:EQTY recorded only marginal movement in share prices during the week.

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