Safaricom Maintains Its Six-Session Slide, Shedding 2.1% To Ksh 14.10 Per Share

All the benchmark indices sustained their downward trajectory, with the NASI and N10 retreating 1.1% and 0.5% respectively while the NSE 20 and NSE 25 each lost 0.6%.

Market activity declined 72.1% to USD 0.3m in the absence of yesterday’s trades on Safaricom and Equity Group.

Safaricom maintained its six-session slide, shedding 2.1% to KES 14.10 on foreign selling. This was the highest daily drop-in slightly over a month.

NCBA was the best-performing top mover and amongst the day’s leading gainers, sustaining its mini-rally by 3.7% to close at a seven-week high of KES 39.70 on increased local trading.

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CIC and BAT investors could also cheer as the counters recouped 0.4% and 0.2% respectively on bullish local sentiments.

Bamburi was the leading laggard of the session, down 7.3% to KES 38.05 on profit-taking following its recent 18.1% rally while TransCentury was the leading gainer, soaring 8.7% to KES 0.50, though both on thin volumes.

Foreign investors maintained their net selling position for the eleventh consecutive session, recording net outflows of USD 0.1m. Safaricom led the selling charge.

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