Thursday Midday Market Update (1:30 PM EAT)
Co-operative Bank extended its strong run after publishing its Q3 results. The stock hit a new all-time high of KSh 25.00 in early trading. The results showed profit up 12 percent YoY to KSh 21.56 billion with the lender declaring its first interim dividend. Year to date gains are now near 50 percent.
Uchumi Supermarkets remained active, trading at KSh 0.44, its highest level since July 2019. The counter has climbed 135 percent YTD, driven by heavy speculation.
Safaricom leads market activity with KSh 280 million in turnover out of the KSh 638 million recorded by midday.
Foreign investors have bought KSh 64 million and sold KSh 226 million, most of it through Safaricom.
Top gainers were Uchumi at +10.00 percent, Africa Mega Agricorp at +9.96 percent, and Nairobi Business Ventures at +8.67 percent.
The biggest losers were ABSA at −7.54 percent, Flame Tree Group at −7.51 percent, and East African Portland Cement at −5.37 percent.
The NASI slipped 0.15 percent at early afternoon.
