Safaricom, which has seen its year-to-date gain in share price rise by about a third, hit a record Sh600 billion valuation on December 9, 2014. PHOTO | FILE
Safaricom touched a new all time trading high of Sh14.70 on Thursday as the telcom firm continues to enjoy positive investor sentiment following release of improved half-year results last month and signing of the Sh15 billion security tender with the government.
Safaricom, which is also investing in a high-speed and high-capacity 4G network, also saw an all-time average price of Sh14.55 a share, from Wednesday’s Sh14.20, pushing the company’s total market capitalisation to Sh582.95 billion.
“We believe the telco’s strong market position and continuous investment in its infrastructure as well as technology attract investors,” said Standard Investment Bank (SIB) in a market note. The company has now seen its year-to-date gain in share price stand at 34 per cent.
Top gainer
The gain this week has boosted the NSE total market capitalisation to Sh2.34 trillion from Sh2.30 trillion at the opening of trading Monday.
The NSE 20 share index went up by 58 points to 5169 on Thursday, backed by the Safaricom gain and that of BAT which closed as the day’s top gainer, being up 9.8 per cent to Sh900 from Sh819 in the previous trading session.
KCB was, however, the day’s top mover in terms of traded turnover Thursday, with 7.56 million shares traded worth Sh450 million, at an average of Sh59.50, which was 50 cents up on the opening price of Sh59.
The day’s leading losing stock was that of Williamson Tea, which shed nine per cent to close at Sh253 from Wednesday’s Sh278 closing price.
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