Turnover at the NSE Surges 189.76Pc as KQ Gains Two Days in a Row

By Juma Fred / June 17, 2017

Nairobi Securities Exchange (NSE)

The turnover at the Nairobi Security Exchange surged 189.76 percent to 2.55 billion shillings from Thursday’s session with the major indices trending north for the second session in a row. Overall foreign activity was a net buying position of 43.69 percent.

Safaricom Ltd upheld position as the highest mover. According to Genghis Capital, the Telco’s major movement in Friday’s trading session with investors pulling on the buy-side, pushing the price up 1.1 percent to 23.50 shillings after touching an all-time high of 24.00 shillings in the session.

59.6% of the counter’s trading was driven by foreign investors who have been net sellers for the last four trading sessions. Centum Investment Co. Plc gained 3.8 percent on Friday, with a cumulative gain of 6.4 percent in the last two trading sessions where it has been a top mover, dealing shares worth 89.74 million shillings (cumulatively).

Foreign investor participation was down 10.9 percent (61.10 percent) from the previous session, noting a decline in the past four trading sessions.  Foreign buying interest was in SCOM and KenolKobil Ltd. (NSE: KENO) while selling interest in Cooperative Bank Ltd (NSE: COOP) and KCB Group Holdings (NSE: KCB).

Kenya Airways Ltd (NSE: KQ) was the top gainer (two days in succession) owing to high speculative activity on the counter. The counter was up 17.98% since Wednesday’s session.

 



About Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. You can reach him on: (020) 528 0222 or Email: [email protected]

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