NAIROBI, Kenya, Mar 9 – Equity turnover soared 181.3 percent bolstered by foreign investor block trades on Safaricom on Thursdays trading session at the Nairobi Securities Exchange (NSE).
The telco accounted for 69.2 percent of total turnover.
Declining for the ninth consecutive session, Safaricom was down 1.2 percent and closed at its 12 month low of Sh16.20.
KCB rallied 5.6 percent making it the best performing large-cap after announcing better than expected FY16 results.
The bank’s volumes traded rose 105 percent to Sh2.7 million with foreign investors accounting for 76 percent of activity on the counter.
Its counterpart, Equity Group gained for the second session in a row buoyed by foreign investor buying ahead of full year 2016 results.
The bank was the second leading mover accounting for 13 percent of total turnover.
NIC, which has been on the decline for the past two weeks, was down 1 percent week on week with investors seemingly not impressed by the 3.4 percent year on year decline in FY16 profits released Wednesday after trading.
Eroding the 0.8 percent gain made in the previous session, KenGen was among the leading losers (-4.0%) on reduced foreign investor demand.