Foreign Investors Drive Demand for Safaricom and Bank Shares

Safaricom dominated trading at the Nairobi Securities Exchange (NSE) on 8^th October 2020, with a volume of 6.3 million traded shares. Its shares exchanged hands at a price of Ksh30.05, a 1.48% drop from the previous KSh30.50. 

The counter was dominated by foreign investors, accounting for 96.1% of all the 121 deals, resulting in a turnover of Ksh189.44 million.

It was followed by Equity Bank with a volume of 2.26 million from 155 deals that were also largely driven by foreign investors at 50.9%. Equity Holdings share prices declined 2.57% to Ksh34.10 from the previous Ksh35.00.

Absa Bank was the third largest mover with a volume of 1.53 million also at a reduced price of Ksh9.44 from the previous Ksh9.50.

Foreign investors also zeroed in on Coop Bank, accounting for 75.2% of all activities here, with a volume of 659,000 as prices fell 0.43% to Ksh11.50.

There was also increased foreign activity on KCB, at 55.5%, pushing up its share price to Ksh38.00 from the previous KSh 37.95

Foreign investors also picked on KPLC, pushing a volume of 36,300 in 32 deals that attracted 61.9% participation from foreigners.

At the end of today’s trading session, a total of 12,981,200 shares in 882 deals were transacted, corresponding to a market value of Ksh350,346,567.00.

Compared with Wednesday’s session,  today’s data shows 42% improvement in volume, 59% growth in turnover, but a 5% decline in deals.

Carbacid Investments Plc [CARB] led the gainers with 8.43% share price appreciation closing at Ksh9. It was followed by Flame Tree Group Holdings (+8.00%), Britam Holdings (+3.56%) and Express Kenya (+2.79%).

The worst performers were led by TransCentury, followed by Eaagads Plc, Longhorn Publishers and Uchumi Supermarkets.

Apart from Safaricom, other big hitters were Equity Group Holdings (2.26Million), Absa Bank Kenya (1.53Million) and Co-operative Bank of Kenya (659,000).

The benchmark NSE All-Share Index [NASI] declined 1.41 points to close at 139.61. The NSE 20 Share Index declined 4.52 points to close at 1,831.57. The NSE 25 Share Index lost 27.43 points to close at 3206.43.

There were 4 Equity Bank single stock futures contracts valued at Ksh144,000 traded on the derivatives market.

Activity on the secondary bonds market was marginally lower, with bonds worth Ksh3.26 billion transacted in 44 deals in as compared to the Ksh3.81 billion achieved in 75 deals during the previous trading session.

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