NSE Trading Floor. Photo/FILE
NATION MEDIA GROUP
By David Mugwe
In Summary
- Increased trading on blue chip counters and a rise in share prices at the Nairobi Securities Exchange (NSE) pushed the bourse’s main index past the 5,000 psychological mark during Thursdays trading
- The NSE 20 Share Index closed at 5,017.78 points, a level last seen between April and May this year when share prices were on an upward trend
- Investor’s wealth– which is measured by market capitalisation - rose to Sh1.902 trilli
Increased trading on blue chip counters and a
rise in share prices at the Nairobi Securities Exchange (NSE) pushed the
bourse’s main index past the 5,000 psychological mark during Thursdays
trading.
The NSE 20 Share Index closed at 5,017.78 points, a
level last seen between April and May this year when share prices were
on an upward trend driven by increased demand after the March 4 general
election.
Investor’s wealth– which is measured by market
capitalisation - rose to Sh1.902 trillion, indicating that the value of
all listed companies has risen by Sh630.58 billion or by 49.57 per cent
since the beginning of this year from Sh1.272 trillion at the beginning
of this year.
Market activity was driven by foreign investor
demand on counters such as Safaricom which released stellar results this
week and Kenya Airways which is expected to post its half year
performance next week.
Standard Investment Bank in their end of day
report to investors said that Safaricom was the day’s top mover on
active foreign investor trading, accounting for 41 per cent of total
volumes.
Safaricom closed at Sh9.85 a 95.05 per cent gain since the beginning of this year, having opened at Sh5.05.
Kenya Airways has gained 8.33 per cent year-to-date having opened at Sh11.40.
“Kenya Airways was amongst the top movers today
buoyed by foreign investor demand. The Airline extended its gains
climbing further 9.3 per cent to Sh12.35, almost touching a 12 month
high,” said SIB.
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