NAIROBI, KENYA, JAN 25 — Telecommunication company Safaricom (NSE:SCOM) share price jumped 1.7 per cent on Thursday to touch an all-time high of Ksh30.00 per share.
This comes as foreign investors dominated the markets in the day’s trading, with analysts expecting the telco’s shares to rally further if all factors remain constant.
The Nairobi Securities Exchange listed company’s shares traded at Ksh29.50 per share on Wednesday.
The increased foreign buyers activities at the Nairobi bourse signals investor confidence, as investors rush back to the market after last year’s prolonged general elections.
“Telecommunication Safaricom touched an all-time high of Ksh30.00 before easing down to close at Ksh29.75 with shares worth Ksh196 million transacted,” the NSE day’s market report stated.
Some 26 million shares valued at Ksh877 million were traded in 1,519 deals, up from 19 million shares that were valued at Ksh670 million posted the previous day.
The NSE 20 Share Index was however down 3.04 points to stand at 3710.16. All Share Index (NASI) was up 1.11 points to stand at 180.55. The NSE 25 Share Index picked up 30.19 points to stand at 4492.37.
The bourses’ market turnover rose 31 per cent from Wednesday’s trading to close at $ 8.58 million (about Ksh877.7 million).
The banking sector traded shares worth Ksh483 million and accounted for 55.08 per cent of the day’s traded value.
The Energy and Petroleum sector had shares worth Ksh78.6 million transacted and represented 8.96 per cent of the day’s traded value.
KenolKobil was the most actively traded counter in this sector with 3.7 million shares valued at Ksh55million changing hands at between Ksh14.70 and Ksh14.95.
The insurance sector had shares worth Ksh15.2 million transacted and represented 1.74 per cent of the day’s traded value , while manufacturing and allied had shares worth Ksh55 million transacted , 6.31 per cent of the day’s traded value.