Safaricom dominated trading at the NSE on Thursday, moving shares worth Sh1.5 billion mainly on foreign trades.
The telco’s large turnover represented 79 per cent of the market’s total trades of Sh1.91 billion. Safaricom saw 110.57 million shares changing hands Thursday, with the markets total at 122.76 million.
Due to the heightened activity on the Safaricom counter, the turnover for the market registered an increase of 161 per cent compared to Wednesday, when shares worth Sh734 million were traded.
“The volumes came from block trades between foreign investors,” said Old Mutual Securities analyst Geoffrey Maina. The rest of the market combined to trade a total of 12.18 million shares, worth Sh407 million.
Although it saw increased trading, Safaricom’s share was among those that shed value in share price Thursday, closing five cents down at Sh13.65. The NSE 20 share index did gain however, closing up by 28 points at 5145 points.
Standard Group, Sasini and Limuru Tea were the day’s top gainers, up 9.7, 8.3 and 7.8 per cent respectively to Sh36.75, Sh13.75 and Sh1100.
The losing stocks included Kapchorua Tea which shed 6.9 per cent to close at Sh148 and Liberty Holdings which was down 4.2 per cent to Sh22.75.
Diamond Trust Bank and Flame Tree Group both shed 3.8 per cent to close at Sh247 and Sh8.65 respectively.
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