Kenya Power Advances 9.7% To Hit Record High At The Bourse

The Indices market closed in the green on Wednesday, with the NASI, N10, NSE 20 and NSE 25 indices gaining 0.7, 1.3, 1.5 and 1.0 percent, respectively.

At the same time, Equity turnover advanced 3.4x to close the session at USD 5.6m. Local investors dominated market activity, accounting for 69.8 percent of the day’s turnover levels, up from 66.8 percent in the prior session.

Equity Group was the day’s most traded top-mover for the third consecutive session, accounting for 35.3 percent of the day’s turnover. The counter gravitated to a position of relative stability, remaining unchanged at KES 43.00.

At the same time, KCB Group edged up 0.6 percent to KES 33.00 whereas Stanchart declined by 0.2 percent to close the session at KES 211.50. Bamburi Cement and Safaricom retreated by 1.2% and 0.3% to KES 80.25 and KES 15.25, respectively.

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EABL emerged as the day’s best-performing top mover, up 6.9% to KES 159.75, largely driven by foreign investor activity.

Nairobi Business Ventures was the day’s top gainer, up 9.9% to close at KES 2.10. On the other hand, Nation Media Group declined by 7.2% to KES 14.75 – closing as the session’s leading laggard. Kenya Power rose 9.7% to close the session at KES 3.27 – a record high since 20th November 2019.

Foreign investors were bearish in the session, with net outflows of USD 5.5k. Standard Chartered led the buying charge following its KES 8.0 interim dividend book closure today while Safaricom led the selling charge.

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