Bulls Drove Market Activity On Thursday As Safaricom Leads The Counters

Bulls drove market activity as reflected by the day’s benchmark indices performance. The NASI, the N10, and the NSE 20 gained 0.2, 0.3, and 0.1 percent respectively while the NSE 25 remained largely unchanged.

At the same time, equity turnover more than doubled, up 107.6 percent to USD 1.4m. Foreign investors dominated market activity, accounting for 81.9 percent of the day’s turnover up from 76.7 percent in the prior session.

Safaricom was the top-traded stock, accounting for 67.8 percent of the day’s activity. The counter extended its rally to the second session, gaining 0.7 percent to 13.90 shillings – recouping losses from the previous week.

Banking stocks dominated the day’s top mover chat with ABSA gaining 1.3 percent to 11.40 shillings to close as the day’s best-performing top mover.

Stanbic holding on the other hand was the day’s worst-performing top mover on a 3.6 percent price slide to 101.75 shillings – a seven-week low.

Equity Group shed 0.1 percent to 35.85 shillings while Co-op Bank remained unchanged at 11.30 shillings.

Sasini was the day’s top gainer on a 10.0 percent rally to 22.00 shillings while Umeme shed 5.3 percent to 15.15 shillings – closing the day as the top loser.

Foreign investors remained net buyers with net inflows of USD 26.7K. Equity Group led the buying charge while Safaricom led the selling charge.

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