The Nairobi Securities Exchange (NSE) closed the year on a high, with equity turnover hitting a record Sh155 billion, according to data released by the bourse. This represents an 80 per cent increase over the 2012 trade volume of Sh86.79 billion. The NSE 20-Share Index, which tracks changes in prices of 20 select stocks, rose 19 per cent to 4,926 points while the All-Share Index gained 44 per cent to close at 136 points. A total of 7.6 billion shares were traded during the year, up 40 per cent on the 5.4 billion that changed hands in 2012. Safaricom was the most sought-after stock in the year, with investors having bought Sh30.5 billion worth of the telecommunication company's shares. The company's strong profit growth and prospects for a higher dividend payout saw the stock double in price in the year. Beer maker EABL was the second most traded counter, recording a turnover of Sh25.3 billion while KCB was third with Sh21.5 billion. Cross-listed Ugandan power distributor Umeme traded shares worth only Sh13,000, in a show of the existing difficulties in trading across borders. The bonds market, however, saw a drop in fortunes, closing the year having declined by 14 per cent to Sh453 billion against Sh530 billion posted in 2012.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?