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Kenya Airways Resumes Trading At The NSE With A Bang, Price Ups 5.7%

BY Standard Investment Bank · January 7, 2025 07:01 am

Kenya Airways rose 5.7 percent to KES 4.05 following the Nairobi Stock Exchange notice lifting the suspension in the trading of Kenya Airways Plc securities, effective January 5, 2025.

According to the notice, the suspension on the trading of Kenya Airways PLC shares was lifted following the company’s recent performance which saw the company record a profit after tax and the withdrawal of the National Aviation Management Bill 2020.

At the same time, Safaricom was the most traded stock, accounting for 51.3% of the day’s turnover. The counter rose 1.4% to KES 17.60, partly attributable to foreign investor exits.

Amongst the top-mover banking stocks, StanChart and KCB Group rose by 1.5% and 0.2% to KES 295.00 and KES 42.90, respectively. Conversely, Equity Group declined by 0.4% to KES 47.80, largely due to foreign investor activity emerging as the day’s worst-performing top mover.

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EABL climbed by 1.4% to KES 179.00 whereas Kenya Power surged 8.1% to KES 5.86 to close as the day’s best-performing mover.

WPP Scangroup was the day’s top gainer, up 10.0% to KES 2.54 while Crown Paints shed 10.0% to KES 32.00 – closing as the leading laggard.

The market closed in the green with the NASI and N10 rising by 0.7%, and 0.1%, respectively. In addition, the NSE 20 and NSE 25 advanced by 0.3% each.

Equity turnover swelled 2.9x to USD 6.2m. Local investors dominated market activity, accounting for 53.5% of the day’s turnover levels, down from 82.9% during the previous trading session.

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