Equity, NCBA, Co-op Dominate The Top Mover’s Chart At The NSE

Banking stocks dominated the top-mover chart of the day. Equity Group gained 0.7% to close at KES 36.30 while NCBA and Coop shed 0.3% and 1.3% to KES 37.55 and KES 11.55, respectively. StanChart and KCB prices, on the other hand, remained unchanged.

Safaricom was the top traded counter on the day – accounting for 66.5% of the day’s turnover. The stock price dwindled by 1% to close the day at KES 14.50. Coop was the worst-performing top mover on a 1.3% price erosion to KES 11.55.

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ILAM Fahari I-REIT shed 5.3% in the day to close at KES 7.12 – ahead of its redemption offer closure tomorrow, Friday 6 October 2023.

The offer is open to non-professional shareholders (individuals, partnerships, or institutions holding units worth less than KES 5m or USD 33.6K) who wish to sell their units and appear on the shareholder register as of the record date of Friday, 1st September 2023 at a price of KES 11.00. The REIT’s units will also be suspended from trading tomorrow.

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Sanlam led the day’s top losers on a 9.1% decline to KES 7.00 while Kapchorua gained 8.8% to KES 210.00 to close the day as the top gainer.

The market priced in mixed investor sentiments for the second consecutive day as reflected by the benchmark indices performance.

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The NASI, N10, and NSE-25 shed 0.4%, 0.3%, and 0.1%, respectively while the NSE-20 gained 0.1% on the day.

Market activity gained 19.3% to USD 0.4m on the back of increased activity on Safaricom. Foreigners exerted their dominance in the market accounting for 58.0% of market activity.

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