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Kenya Airways Top Gainer At The NSE As Equity Turnover Expands 42%

BY Standard Investment Bank · January 11, 2025 10:01 am

The market closed the week in the green with the NASI and N10 rising by 0.5% and 0.2%, respectively. In addition, the NSE 20 and NSE 25 inched upwards by 0.1% each.

Equity turnover expanded by 44.2% to USD 4.7m. Local investors dominated market activity, accounting for 50.6% of the day’s turnover levels, down from 90.2% yesterday.

EABL was the most traded stock, accounting for 26.9% of the day’s turnover. The counter’s price function strengthened by 2.0% to KES 179.50, largely attributable to foreign investor activity.

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Amongst the top mover banking stocks, Absa and Stanbic rose by 1.6% and 0.3% to KES 19.10 and KES 157.00, respectively with the former closing as the day’s best-performing top mover. Conversely, Equity Group and Co-op Bank softened by 0.2% and 4.3% to KES 47.50 and KES 16.60, respectively with Co-op Bank emerging as the day’s worst-performing top mover.

Safaricom rose by 0.8% to KES 18.10, largely supported by foreign investor activity. Kenya Airways was the day’s top gainer, up 10.0% to KES 5.74. Kenya Power reversed its rising streak, dipping by 6.2% to KES 6.92 – closing as the leading laggard.

Foreign investors turned bullish in the session, with net inflows of USD 274.7k. Equity Group led the selling charge, while EABL led the buying charge.

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