A Nairobi Securities Exchange employee monitors trading on a screen. PHOTO | FILE
Equity Bank, Britam and Jubilee Holdings on Thursday extended their recent upward trajectory to touch fresh highs, keeping the bourse above the 5200 mark for the third straight session.
Equity clawed back ground lost on Wednesday after local investors sold heavily on profit taking, gaining almost six per cent on Wednesday to close at Sh54.50.
Fears over the future of its South Sudan operations eased amidst anticipation of its telecoms launch.
The retail banker was the top mover in the market with a turnover of Sh161 million, ahead of Safaricom that moved shares worth Sh78 million on a relatively quiet day for the telco.
Insurance stocks Britam and Jubilee have trended up largely due to corporate actions, closing on Sh33 and Sh428 respectively from Wednesday’s Sh32.25 and Sh424.
Britam has attracted investors due to its upcoming takeover of Equity Bank’s 24.7 per cent stake in Housing Finance even as it looks to broaden its footprint in the real estate sector.
Jubilee is expanding its regional reach while defending its market share lead. It is also set to close books today for a Sh1 interim dividend.
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