Safaricom Dominates NSE With A Total Turnover Of 61.8%

Safaricom dominated the counters at the Nairobi Securities Exchange (NSE) with a total turnover coming in at 61.8 percent, albeit sustaining its six-session bear run, slumping 5.9 percent to 16.80 shillings despite Friday’s dividend book closure.

Likewise, KCB closed in the red for the sixth consecutive session, losing 1.5 percent to 29.00 on bearish foreign sentiments.

Equity Group built on its winning streak, closing in the green for the seventeenth consecutive session, inching up 0.9 percent to a three-month high of 44.90 shillings on foreign demand.

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StanChart and I&M were the other top movers to gain, edging 0.8 percent and 0.5 percent higher to a three-month high of 166.00 shillings and a four-month high of 19.00 shillings respectively on bullish local sentiments.

Home Afrika was the leading loser of the day, plummeting 8.6 percent to 0.32 shillings while Bamburi was the leading gainer, rebounding 3.4 percent to 26.00 shillings. The market posted its largest daily drop in over two months, declining 2.5 percent on Safaricom’s rout.

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Similarly, the NSE 20 and NSE 25 retreated 0.3 and 1.2 percent respectively.

Market activity more than doubled (111.8 percent) to USD 1.6m on increased trading of Safaricom and KCB. Foreign investors turned net sellers, registering net outflows of USD 0.4m.

Safaricom led the selling charge, posting net outflows of USD 0.3m while Equity Group led the buying charge, posting net inflows of USD 0.1m.

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