Safaricom Plc disclosure that it had submitted a bid for a telecommunications license in Ethiopia pushed its share prices to new highs as trading ended at the Nairobi Securities Exchange(NSE) last week.
With the largest market capitalization at the NSE of KSh 1.62 Trillion, Safaricom’s share price rose to end the week at KSh 40.65 and a turnover of KSh 422.40Million.
Safaricom share price movements
Over the past 52 weeks, Safaricom share price has climbed from KSh 25.95 to touch a new high of KSh 41 last week.
Safaricom later eased to close the week at KSh 40.35 per share, being a 3.99% share price appreciation for the week, up from KSh 38.80 registered the previous week.
NSE Performance
The All Share Index moved up 2.14%% to close the week at 169.15 basis points against 165.61 points recorded the previous week.
This was equivalent to a 4-week gain of 6.64% and an overall year-to-date gain of 11.2%.
The NSE 20 share index shed 21.67 points or 1.15% to close Friday at 1,866.58 points, while the NSE25 share index added 38.9 points or 1.07% from last week’s close to stand at 3,674.77.
The NSE 20 has shed 0.1% while the NSE25 has gained up to 7.6% respectively in the YTD performance.
Weekly Equity Turnover at the bourse was up 1.52% to KSh 2.45 billion from the previous week’s KSh 2.41 billion.
The volume of shares traded at the exchange down up 0.33% to close the week with 74.62 Million shares exchanging hands compared to the 74.87 Million traded in the previous week.
The Banking Sector had shares worth KSh 397 Million transacted, accounting for 16.21% of the week’s traded value.
Equity Group Holdings Plc moved 3.3 Million shares valued at KSh 132 Million and closed the week at KSh 39.15 per share.
KCB Group Plc was down 3.25% as the company traded on ex-dividend to KSh 40.25 per share. KCB had 2.5 million shares valued at KSh 103 Million.
The Derivatives Market had 272 contracts valued at KSh 10.6 Million transacted compared to 210 contracts valued at KSh8.2 Million posted the week prior.
Trading on the Secondary Bond Market recorded posted a 3.15% decline in activity with KSh17.29 billion worth of bonds traded against the KSh 17.85 billion worth of bonds transacted in the week prior.
ALSO READ: Safaricom Warns Investors to Exercise Caution as it Bids for Ethiopia Telco License
