Safaricom stock most traded at Nairobi bourse

Money Markets

An investor monitors online trading at the Nairobi Securities Exchange. PHOTO | FILE 

By CHARLES MWANIKI, cmwaniki@ke.nationmedia.com

In Summary

• Safaricom moved shares worth Sh757.09 million to boost the total turnover for the day to Sh1.15 billion from the Sh476 million recorded on Tuesday.

Safaricom dominated turnover at the Nairobi Securities Exchange on Wednesday on the back of block trades, accounting for two thirds of the day’s trade.

The telco moved shares worth Sh757.09 million to boost the total turnover for the day to Sh1.15 billion from the Sh476 million recorded on Tuesday.

The other significant mover of the day was KCB, whose counter recorded a turnover of Sh178.4 million. Other large cap counters recorded more modest turnovers, meaning that the NSE 20 share index only shifted marginally, up three points to 4219.

“Safaricom continued to stir the market with 52 million shares changing hands at between Sh14 and Sh14.70. KCB was the most heavily traded counter in the banking sector, with 3.8 million shares changing hands at between Sh46 and Sh47,” said the NSE market report.

Smaller cap counters recorded the biggest price shifts with Mumias Sugar the leading gainer in the market at 5.7 per cent to close at Sh1.85 a share.

Longhorn followed at 4.2 per cent to Sh7.45, while CIC Insurance was up 3.8 per cent to close at Sh6.90 a share.

Atlas Development was the leading decliner down 10 per cent to Sh4.05 a share.