Shares of Kenya’s Largest Listed company, Safaricom Ltd fell to an 8 Month low of Sh 17.70 on Tuesday’s trading session, as worries over a leaked report recommending Breaking M-Pesa from the telecom company continued to keep investors on edge.
During the day’s trading session, the counter moved 2.3Million shares valued at Ksh 42Million transacted at between Kes.17.70 and Kes.18.00.
Since the 1st of November 2016, the counter has shed about 17% from the highs of Sh 21.23 Per share to Sh 17.70 witnessed during Tuesday’s session.
Generally, activity at the Nairobi Securities Exchange is still very low even as most of the companies release their financial results.
Continuing a recent downward trend, NSE 20 Share Index regressed below 3000 points on Tuesday, dropping 38.80 points to stand at 2994.53. Over the last two years, the index has shed more than 45% though gaining by 6.36% on a month to month basis. Market Capitalization is currently hovering at around Ksh 1.8 Trillion to Ksh 1.9 Trillion.
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