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Stanbic Beats Safaricom To Emerge As Top Traded Counter

BY Standard Investment Bank · December 8, 2023 12:12 pm

Indices

The market turned green as reflected by the benchmark indices’ performance. The NASI, N10, NSE 20, and NSE 25 gained 0.1%, 0.3%, 0.2%, and 0.4% respectively.

Turnover

Market activity retreated to USD 0.8m (-87.3%) on reduced trading on Safaricom. Local investors were the key market players accounting for 53.3% of the day’s turnover down marginally from 53.8% in the prior session.

Read Also: Equities Turnover Dip The Highest This Year, 87.3% To Ksh 115.3 Million

Counters

Stanbic was the top traded counter, accounting for 36.4% of the day’s turnover. The stock gained 0.7% to KES 105.00 – despite leading foreign outflows in the session.

Safaricom, on the other hand, shed 0.3% to KES 14.55 – erasing gains printed in the week.

EABL shed 0.2% to KES 112.00 while Bamburi continued its rally on a 0.5% gain to KES 40.20 – the highest since 23rd April 2021. The counter has so far gained 78.7% since the announcement of the sale of Hima Cement.

Co-op Bank was the day’s best-performing top mover on a 1.4% gain to KES 11.20 while KCB Group remained unchanged at KES 19.30.

Read Also: The Stock Market Is Not For Everyone, Let Not Peer Pressure Lie To You

Unga Group was the leading laggard in the session, down 9.7% to KES 15.30 while Nairobi Business Ventures was the best performer, on a 9.8% rally to KES 2.47.

Foreign net flows

Foreign investors remained net sellers for the sixth consecutive session printing net outflows of USD 166.7K. Stanbic led the selling charge while EABL led the buying charge.

Read Also: Equities Turnover Dip The Highest This Year, 87.3% To Ksh 115.3 Million

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