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Safaricom Accounted For 70% Of Total Turnover On Tuesday

BY Juma · July 5, 2023 09:07 am

KEY POINTS

The top movers generally closed higher, with banking stocks dominating the top movers’ list, accounting for 23.1 percent of the total turnover. Equity Group climbed 2.3 percent to a six-week high of 39.20 shillings on sustained foreign demand.

Safaricom reclaimed the top mover position, accounting for 70.2 percent of equity turnover. The telco inched 0.3 percent higher to 17.80 shillings (still an eleven-week high). KCB rebounded 0.5 percent to 29.45 shillings on increased local demand.

Related Content: Equities Turnover Jumps 159%, Ends The Day At Ksh 403 Million

The top movers generally closed higher, with banking stocks dominating the top movers’ list, accounting for 23.1 percent of the total turnover. Equity Group climbed 2.3 percent to a six-week high of 39.20 shillings on sustained foreign demand.

Meanwhile, Stanbic and StanChart rose slightly by 0.4 and 0.2 percent respectively while NMG featured as a top mover on the second day of its share buyback, though remained unchanged at the share buyback price of 20.00 shillings.

Related Content: Safaricom Ethiopia CEO Leaves The Business After 2 Years At The Helm

Losers

Sanlam was the leading gainer, soaring 9.7 percent to 7.94 shillings while Sameer was the leading laggard, slumping 7.0 percent to 2.51 shillings.

Foreign investors were net sellers for the fourth consecutive session, recording net outflows of USD 0.1m. Safaricom led the selling charge while Equity Group led the buying charge.

At the same time, market activity more than doubled (159.0 percent) to USD 2.9m on increased trading of some large caps. Participation in the market was relatively at par between local and foreign investors.

Related Content: Safaricom Revenue Hits Ksh 310.9 Billion As Ethiopia Gives Greenlight For M-Pesa

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. (020) 528 0222 or Email: info@sokodirectory.com

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