Safaricom Makes a Comeback as Top Mover on Thursday’s Trading

NASI advanced 1.30 percent to settle at 137.64, on a reduced turnover of 623.84 million shillings. The turnover reduction was by 13.81 percent from previous session.

Safaricom Ltd made a comeback as the top mover in Thursday’s session, rallying 2.5 percent to perch at 20.50 shillings. This is converse to Wednesday’s performance where the Telco closed 1.28 percent lower in price. Economic experts say that they expect this price and volume oscillation to continue until book closure which is slated for 1^st September 2017.

Second on the movers’ list was Co-operative Bank Ltd which traded 85.02 million shillings on an increased price by 5.6 percent. The counter has been on an uptrend for the past two sessions in anticipation of the 1:5 bonus announced earlier in the year. COOP’s book closure is set for 30^th June 2017.

Foreign activity, on the other hand, was at 27.6 percent, being a decline of 54.7 percent from the previous session with Safaricom Ltd dominating the desk with 68.23 percent of activity. Centum Investment Co. Plc recorded the highest foreign net inflows 4.48 million shillings while for the second session in a row, KenolKobil Ltd logged the highest net outflows of 38.98 million shillings.