Safaricom steady at NSE as bonds rise to Sh2.9 billion

Safaricom remained unchanged at the Nairobi Securities Exchange (NSE) on July 2 as bourse turnover inched upwards.

On the day that former chief executive Bob Collymore was laid to rest having passed on a day earlier, the giant telco remained at Ksh28.15. Its share price had traded at highs of Ksh28.30 and Ksh28.

Safaricom’s share price has remained calm amid bereavement, maintaining the price that Collymore was directly responsible for. When he joined the firm in November 2020, the telco’s share price stood at around Ksh4.62.

Kenya’s largest telco by subscriber base was also the day’s biggest mover with 7.9 million shares valued at Ksh224.7 million.

The day’s trading at the NSE also saw an increase in market turnover. The bourse posted Ksh375 million, up from the previous session’s Ksh222 million. The number of shares traded stood at 19.7 million against 6.6 million posted yesterday.

Of the Ksh375 million, Safaricom’s trading contributed to 59.77% of the day’s traded value.

Another sector that traded high at the NSE was the banking sector which had shares worth Ksh98.7 million transacted. This accounted for 26.27% of the day’s traded value.

I&M Holdings moved 612,000 shares valued at Ksh33.7 million at a fairly stable price of Ksh55. KCB Group closed the day 1.29% higher to Ksh39.20 and moved 805,000 shares valued at Ksh31.5 million.

Co-operative Bank edged down 0.42% to Ksh11.90 with shares worth Ksh20 million transacted.

At the indices tab, all indicators closed in positive territory as follows;

• All Share Index NASI was 0.12 points higher to stand at 150.13.
• NSE 20 share Index closed up 0.31 points to stand at 2653.09.
• NSE 25 Share index added 3.64 points to settle at 3604.73.

The Bond market meanwhile had bonds worth Ksh2.9 billion transacted, inching up from the Ksh1.9 billion posted previously.

Investors at the NSE also gained more money at the securities exchange.

Market capitalisation which measures investor wealth, also bumped upwards to settle at Ksh2.286 trillion. On Monday, the investors were worth Ksh2.284 trillion.

[See Also: Can these Kenyans lead Safaricom?]