Safaricom Remained The Most Active Stock, Accounting For 94.1% Of All Market Activity

Safaricom remained the most active stock from a turnover perspective, albeit its pricing remained unchanged for the third trading session at 15.10 shillings.

Local play drove the KCB price function up 0.2 percent to 23.35 shillings. The lender had a relief rally following its 18-session bear run, closing as the second top mover of the day.

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CIC was a surprise top mover, regaining 4.9 percent to 2.16 shillings on increased local trading. Bamburi shed 3.3 percent to 25.15 shillings, closing the day as the leading laggard. Small-cap stocks dominated the day’s top gainers with Eveready leading the pack on an 8.2 percent price erosion.

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At the same time, the NSE 10, NSE 20, and NSE 25 closed in the red, each down 0.1 percent even as NASI remained largely unchanged. Market activity rose 54.1 percent to USD 1.9m on the back of increased trading on Safaricom.

In other news, Sanlam Limited and Allianz SE have received regional regulatory approvals to incorporate Sanlam Allianz Africa – the planned strategic JV will house operations for Sanlam’s and Allianz operations on the African continent, outside of South Africa.

Shareholders of Sanlam Kenya are advised to exercise caution when dealing in Sanlam Kenya as the proposed transaction may have a material effect on the value of the shares of Sanlam Kenya. That said, there will be no change in the direct shareholding of Sanlam Kenya.

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