Home ECONOMY NSE turnover spikes to Sh1.67 billion on Safaricom, Jubilee shares

NSE turnover spikes to Sh1.67 billion on Safaricom, Jubilee shares

by biasharadigest

Safaricom traded 22.67 million shares at the Nairobi Securities Exchange (NSE) with the high volumes seeing a jump in equity turnover to Ksh1.67 billion.

Trading at a high of Ksh27.65 and as low as Ksh27.30, the giant telco’s stock price closed at Ksh27.50.

Safaricom’s shares were valued at Ksh623 million, representing 37.12% of the day’s traded value.

While Safaricom’s shares ensured the telecommunication sector dominated the day’s trading, the insurance sector pipped banks to become the second highest contributors to the turnover.

Boosted by Jubilee Holdings, the insurance sector transacted stocks worth Ksh570 million, accounting for 33.94% of the day’s turnover.

Jubilee’s shares were valued at Ksh566 million, changing hands at between Ksh390 and Ksh410.

Its stock price jumped 5% to settle at Ksh409.75.

The equity turnover’s jump from Ksh370 million posted yesterday also saw the number of shares traded stand at 37 million as against the previous session’s 12 million.

The indices tab registered positive gains as follows;

  • All Share Index NASI picked up 0.24 points to stand at 150.46.
  • The NSE 20 share Index was up 16.68 points to stand at 2700.35.
  • The NSE 25 Share index added 7.08 points to stand at 3640.53.

On the fixed income securities market, bonds worth Ksh3.1 billion were transacted, inching lower from the Ksh3.9 billion posted in the previous session.

NSE Gainers and Decliners

Among the companies that saw stocks perform well at the NSE on Wednesday were Sanlam Kenya, Olympia Capital and Kenya Power and Lighting (KPLC).

Sanlam’ stock bumped 9.83% to settle at Ksh22.90, while Olympia Capital saw an 8.23% rise to Ksh2.50.

On the decliners list, Eveready East Africa led the pack, plunging 5.26% to Ksh0.90.

[See Also:KBC acquires rights to air all AFCON matches]

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