Safaricom Tops at the NSE on Monday as Turnover Retreats

By Juma Fredrick

The market turnover at the bourse retreated 63.49 percent on Monday from the previous session to close the day at 442.64 million shillings.

Safaricom Ltd topped trading table on the week’s open at a constant price of 22.75 shillings trading 239 million shillings from 949 million shillings at market close on Friday.

Nation Media Group Ltd had an unusually low activity, having closed their dividend books last Friday. The counter closed 10.4 percent lower at 103.00 shillings a 1-Month Low.

The market was dominated by local investors in Monday’s session, coming in at 50.5 percent. Foreign buying interest was seen in Equity Group Holdings Ltd. and Stanbic Holdings Plc with notable foreign selling interest in Safaricom Ltd, KCB Group Ltd, Co-operative Bank Ltd and Umeme Ltd.

Selling interest in KCB Group Ltd could have been attributed to the news of its acquisition of a 70 percent stake in National Bank of Kenya Ltd through a share swap.