At the Nairobi Securities Exchange during Wednesday’s trading session, 86.76Million shares were traded driven mainly by Safaricom which took a huge bite of 57.67Million shares worth Ksh 1.1 Billion representing 666.46% increase from the previous day.
Safaricom moved slightly by +0.8% to close the day at Ksh 19.00. The counter is trading ex-dividend but there has been huge demand from foreign investors who could possibly be taking positions ahead of the upcoming half year results release in a few weeks time.
READ; Kenya August 2016 Market Report
The trades in Safaricom boosted the total market Capitalization by 0.25% (Sh 4.79Billion) However, the benchmark NSE 20 Share Index fell 0.02% with loses in Liberty Kenya and Britam countered by 5.67% and 4.27% gains in DTB and Nation Media respectively.
Foreign investors were active at 92.88% and Sh 55.25Million in net outflows.
Sanlam Kenya recovered 5.26% in value to average Sh 30 Sh28.50 with only 300 shares trading. Britam declined 4.31% as foreign investors sold shares worth Sh 66.85Million of this counter.
TransCentury Limited closed was the day’s top gainer to Sh 8.20. Over the last one week, the counter is up 47.75% and 84.27% during the last one month. The company turned into profitability with the debt reduction offsetting lower sales. The firm recently moved to reduce its finance costs by proposing a transfer of over Sh 15Billion of its existing loans from various financiers to Afreximbank.
Sources (NSE, Kenyan Wallstreet, Sterling Capital)
