EABL dislodged Safaricom to become the top traded counter, accounting for 31.8% of the total turnover. The brewer slumped 5.5% to KES 125.25 (still a 14-month low) on increased foreign trading.
Safaricom extended the prior session’s gains by 0.3% to KES 16.00 on local demand. NMG remained unchanged at its share buyback price of KES 20.00. The media firm announced 1H23 results, with PAT plummeting 98.8%y/y to KES 2.9m.
StanChart was amongst the leading losers of the day, down 5.8% to an 11-week low of KES 150.25 on bearish local sentiments. KCB and Co-op investors suffered a similar fate as the lenders edged 0.5% and 1.3% lower.
BAT maintained its bear run, easing 0.9% to KES 420.50 besides today’s dividend book closure. Foreign investors turned net sellers after three consecutive sessions of net buying, registering net outflows of USD 0.1m. Safaricom led the selling charge while Stanbic led the buying charge.
In other news, the Board of Kenya Electricity Generating Company PLC has announced the appointment of Eng. Peter Waweru Njenga as Managing Director and CEO. Mr. Njenga’s experience spans over 31 years having joined the energy sector as a graduate trainee at Kenya Power in 1991 and steadily ascended the ranks.
Before his appointment, he served as General Manager for Infrastructure Development at Kenya Power.
All the benchmark indices closed the week in the red led by the NSE 20 and NSE 25 each sliding 1.0% on the price drop of some large caps while the NASI retreated 0.8%.
Market activity declined 81.1% to USD 0.9m in the absence of yesterday’s trades on Safaricom.
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