Safaricom dominated trading activity at 68.9%, albeit declining marginally by 0.3% to KES 15.45 on increased foreign selling, to close in the red for the second consecutive session.
The top movers list predominantly consisted of banking stocks; KCB, Co-op, DTB, I&M, and Absa Bank, which jointly accounted for 22.2% of turnover.
Read Also: EABL Dislodges Safaricom As Top Traded Counter, Accounting For 31.8%
I&M was the leading laggard in the top movers’ list, declining 1.1% to a two-month low of KES 18.00, likely following its 5.7%y/y drop in 1H23 PBT on higher costs and provisions.
Absa regained 0.9% to KES 11.20 ahead of tomorrow’s 1H23 results. The lender had lost 5.9% in the prior two sessions.
Read Also: Crown Paints Partners With Safaricom Sacco To Bolster Growth
Williamson Tea was the top loser of the day, down 9.8% to KES 185.50 as the counter continued to trade ex-dividend. Bamburi was the second top loser, down 5.6% to KES 24.30 on profit-taking. Meanwhile, Sameer was the best performer, jumping 9.8% to KES 2.35.
Foreign investors turned net sellers, registering net outflows of USD 0.3m. Safaricom led the selling charge while KCB led the buying charge.
At the same time, the market began the week in the red, closing lower by 0.2%. The NSE 20 and NSE 25 sustained their losses, each sliding 0.1%.
Read Also: Safaricom Back As Top Mover, Accounting For 33% Of Total Turnover