Safaricom has now crossed the 50 percent capitalization mark at the NSE after recording huge gains in the week ended at the NSE.
The gains in the week ended saw Safaricom accounting for 50.4 percent valuation as a share of the entire market, further establishing its position as the most valuable firm at the NSE.
This now means that Safaricom’s market worth is now more than the combined valuation of all the other 61 listed companies at the NSE.
On Friday, Safaricom closed the day selling its shares at a historic high of 32.80 shillings, with its market capitalization hitting 1.314 trillion shillings since its listing at the NSE on June 9, 2008.
Since the year began, Safaricom’s stock price has so far gained 4.1 percent.
In the year ended 2019, Safaricom dominated the equities market on both the market turnover and in determining the direction of the market given its weight and liquidity in the Nairobi Securities Exchange (NSE).
The stock closed 2019 with a share price of 31.50 shillings and net foreign inflows of 4.6 billion shillings and stamping foreign investors’ dominance on the counter at 75.4 percent of total traded volumes.