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.
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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.
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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.
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