Safaricom Back As Top Mover, Accounting For 33% Of Total Turnover

Safaricom reclaimed the top mover position, at 33.1% of turnover though remained unchanged. BAT followed closely at 32.2%, extending its slide by 1.1% to KES 430.00 on a foreign block trade. The firm’s dividend book closure is on Friday.

Williamson Tea featured in the top movers’ list, dropping 2.1% to KES 265.00. The firm’s dividend book closure is next week, on 23 August. KCB maintained its bear run, losing 1.4% to KES 28.10 on increased foreign selling – the lowest price since 8 March 2017.

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Equity Group lost 0.7% to KES 40.70 on the day it announced its 1H23 results. EPS was up a marginal 7.2%y/y to KES 6.75, weighed down by a 32.6%y/y jump in operating expenses as well as a 73.6%y/y jump in loan loss provisions as non-performing loans grew. Kenyan unit profitability tapered down 8.3%y/y to KES 20.3bn.

Stanbic was the only top mover to climb, edging 0.2% higher on local demand.

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At the same time, all the benchmark indices closed in the red with the NASI, NSE 20, and NSE 25 declining 0.5%, 0.9%, and 0.6% respectively.

Equity turnover dropped 71.0% to USD 0.9m on reduced trading across most large caps.

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