Bourse turnover more than doubles to Sh755 million

NSE activity tips upwards on Wednesday with equity turnover more than doubling to Kes 754.9 million from Kes 319.5 million previously.

The number of shares traded at the Nairobi Securities Exchange (NSE) hit 18.6 million from 9.2 million shares on Tuesday.

Safaricom returned to the peak of trades to lead the NSE with a turnover of Kes 514.3 million ahead of Equity Bank Group and East African Breweries Ltd with turnovers of Kes 117.1 million and Kes 67.3 million respectively.

Ethiopia’s telecommunications regulator awarded an operating license to a consortium led by Safaricom and Japan’s Sumitomo, at a ceremony witnessed by President Uhuru Kenyatta on Tuesday, June 8.

Read also: Bourse turnover surges 59 per cent to Sh513 million at start of week trading

Safaricom share closed Wednesday’s trading at Kes 41 from the previous day’s Kes 40.95.

The award of the new telco license ends the state’s monopoly over its stunted telecoms sector that has been enjoyed by Ethio Telecom.

Today’s top gainers were Home Africa Ltd share that surged by nearly 10 per cent to close at 45 cents as well as battery maker Eveready whose stock gained 6.25 per cent to end at 95 cents.

On the losing end, Express Kenya Ltd led the pack in the red shedding nearly 8 per cent of its value to close at Kes 4.05. Equally, insurer Sanlam Kenya Ltd lost 7.5 per cent of its share value to Kes 9.90 at the close of trading.

The shilling depreciated against the greenback to stand at Kes 107.95 in contrast to Kes 107.90 recorded in the previous session.

In the secondary bond market, turnover was up, increasing by 29.42 per cent to Kes 3.59 billion from Kes 2.77 billion worth of bonds traded previously. The number of deals also increased to 72 from 50 recorded during Tuesday trading session.

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