Kenya Commercial Bank Beats Safaricom As Top Mover at the NSE

Kenya Commercial Bank has edged out Safaricom Limited to emerge as the top mover of the day at Nairobi Securities Exchange. Safaricom was the top mover on Tuesday.

KCB posted 10.88 million shares with a market capitalization of 139.50 billion. Safaricom was the second top mover after KCB with 10.30 million shares with a market capitalization of 1.18 trillion.

Equity Group and Kenya Electricity Generating Company posted 1.62 and 1.05 million shares respectively while KenolKobil posted 809,600 shares.

Two bankers, Kenya Commercial Bank and Equity Group dominated the top five movers’ table.

The top loser of the day was Unga Group. The company lost 7.44 percent at the price of 28.00 shillings per share.

The second top loser was Kapchorua Tea Kenya with 6.43 percent at the price of 65.50 shillings per share.

Nation Media Group and Car and General (K) lost 5.26 and 4.76 percent respectively at the price of 108.00 and 20.00 shillings per share respectively.

Nation Media Group has announced a restructuring program that will see an unknown number of employees lose jobs. Could this be the reason why it slumped today?

Flame Tree Group lost 4.30 percent at the price of 4.45 shillings per share.

The top gainer of the day was Olympia Capital. The company gained 7.94 percent at the price of 3.40 shillings per share.

Mumias Sugar Company was the second top gainer with 4.76 percent at the price of 1.10 shillings per share.

BOC Kenya and Nairobi Business Ventures (which featured among the top losers on Tuesday) gained 3.85 and 3.33 percent respectively at the price of 108.00 and 3.10 shillings per share respectively.

Centum Investments Limited gained 2.79 percent at the price of 46.00 shillings per share.