KCB Group Beats Safaricom To Trade The Most On Friday
KCB Group was the day’s most traded top-mover on Friday, accounting for 39.3% of the day’s turnover. The counter gained 1.7% to close at KES 29.85.
On the other hand, Equity Group shed 1.2% to KES 40.00 whereas NCBA Bank and Co-op Bank remained unchanged at KE 39.00 and KES 12.80, respectively.
Kenya Re closed as the day’s best-performing top mover, up 2.7% to KES 1.26 – with the counter released its HY24 results today.
Safaricom gained 0.7% to close the session at KES 14.85, mainly driven by local investor activity.
BK Group was the day’s top gainer, up 8.2% to close at KES 35.50. On the other hand, Crown Paints shed 3.1% to KES 34.00 – closing as the session’s leading laggard.
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KCB Group, NCBA and I&M 1H24 results release are expected next week. KCB Group’s results release is anticipated tentatively on 21/08/24, and 22/08/24 for NCBA and I&M.
The market closed on a mixed note with the NASI, NSE 20, and NSE 25 gaining 0.5%, 0.9% and 0.1%, respectively. On the other hand, the NSE 10 shed 0.1%.
Equity turnover more than doubled (+111.66%) to close the session at USD 1.6m. Local investors dominated market activity, accounting for 88.6% of the day’s turnover levels, with foreign investors accounting for 11.4%.
Foreign investors were bullish in the session, with net inflows of USD 297.2k mainly driven by purchases. Equity Group led the buying charge while HF Group led the selling charge.
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