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Safaricom Dominates The NSE, Accounts For 87.2% Of All Sales

BY Standard Investment Bank · September 12, 2023 06:09 am

KEY POINTS

Co-op and StanChart shed 0.8% and 0.9% each, closing the day as the worst-performing top movers on local selling. Flame Tree was the day’s laggard on a 9.2% price erosion to KES 1.18. Olympia was the day’s top gainer on a 10.0% rally to KES 3.85.

The market opened the week on bullish sentiments with all indices closing the day in the green. The NASI, NSE 10, NSE 20, and NSE 25 closed up 0.7%, 0.6%, 0.2%, and 0.5% respectively.

Turnover receded 21.0% to USD 1.2m on the back of reduced activity on the banking stocks.

Safaricom was the most active stock from a turnover vantage point, with a print of KES 159.2m – c. 87.2% of the day’s turnover. Its price gained 1.6% to KES 15.75 despite a net foreign outflow.

Read Also: Weekly Equity Turnover Drops 35.1% To Close At Ksh 1.15 Billion

CIC was a surprise top mover. It traded 671,200 shares in the day at a volume-weighted price of KES 2.19, closing the day on a 0.9% gain on local buying.

Co-op and StanChart shed 0.8% and 0.9% each, closing the day as the worst-performing top movers on local selling. Flame Tree was the day’s laggard on a 9.2% price erosion to KES 1.18. Olympia was the day’s top gainer on a 10.0% rally to KES 3.85.

Read Also: T-Bill Subscription Ups 161% As Investors Go For Shorter Papers

ILAM Fahari I-REIT shed 3.8% to close at KES 9.00 on the fourth day of the redemption offer. The ILAM Fahari I-REIT redemption offer commenced on 6 September 2023 and will close on Friday 6 October 2023.

The offer will be at a price of KES 11.00 and acceptance to redeem one’s units will be through filling a form of acceptance or via USSD.

Read Also: The Televised Fall Of The Kenyan Shilling, Drops Further To The Lowest

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