An investor passes by the trading board at Nairobi Securities Exchange in Westlands, Nairobi. Photo/DIANA NGILA
What you need to know:
Safaricom accounted for 87 per cent of shares traded on Friday, gaining 2.8 per cent on its opening price of Sh12.45 to close the week at Sh12.75.
The counter saw a block trade of Sh1.58 billion towards the end of the session, pushing market turnover to Sh2.1 billion from Sh632 million on 30 million shares posted Thursday.
Safaricom touched Sh13 in Friday’s trading as it dominated the market with a volume of 123.2 million shares changing hands.
Safaricom accounted for 87 per cent of shares traded on Friday, gaining 2.8 per cent on its opening price of Sh12.45 to close the week at Sh12.75.
“Foreigners were heavy buyers and sellers on the counter, some with an eye on full year results,” said ABC Capital corporate finance and advisory manager Johnson Nderi.
The counter saw a block trade of Sh1.58 billion ($18.3m) towards the end of the session, pushing market turnover to Sh2.1 billion from Sh632 million on 30 million shares posted Thursday.
Weekly turnover rose to Sh4.8 billion from Sh2.3 billion posted the previous week. Half of last week’s turnover was registered on Friday.
Oil marketers Total and KenolKobil, which both announced improved results for 2013 during the week, ceded gains on Friday with Total shedding four per cent to close at Sh23.75 and KenolKobil inching one per cent lower at Sh9.65.
The NSE 20 Share Index closed the week at 4,905 points while the NSE All Share Index stood at 145.1 points.
Analysts expect that as more counters start to trade ex-dividend, investors will largely turn to buying in order to take positions on shares at more favourable prices.
“This presents a viable entry opportunity for investors thus we expect accumulation activities to prevail,” said Genghis Capital in a market report.
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
