Kenya Airways, African Mega Gains Boost NSE Index

Kenya Airways, African Mega Gains Boost NSE Index

Kenya Airways, African Mega, Standard Group, Liberty Kenya, and HF Group boosted the Nairobi Securities Exchange (NSE) as the benchmark index rose on buying activity.

The bourse market report indicated that equity prices rose by 0.3%, largely driven by NSE 10 counters, which gained 0.3% on average.

Kenya Airways topped the gainers’ list, up 7%, followed by Africa Mega, up 4.9%, with 4% price appreciation in Standard Group, while Liberty Kenya and HF Group rose 3.8% and 3.3%, respectively.

According to Pergamon Investment Banking, NSE 25 counters rose 0.1%, while NSE 20 and the banking sector index fell 0.1% each.

 Shares traded jumped by 101.2% from 14.57 million to 29.31 million shares, constituting to an 81.8% spike in the day’s turnover to KES 877.39 million from KES 482.72 million.

The investment firm reported that Safaricom was the day’s top mover with a turnover of KES 626.94 million, followed by Equity Group and KCB Group with KES 75.55 million and KES 36.33 million in turnover, respectively.

Foreign activity rose to 76.2% with a net foreign outflow of KES 96.81 million. KenGen recorded net foreign inflows, while Safaricom and Equity Group recorded net foreign outflows.

Secondary bonds’ turnover shrank by 59.7% from KES 17.20Bn to KES 6.93Bn as the number of deals sank from 203 to 136. IFB/2024/8.5yr was the most traded, with a turnover of KES 1.60 billion.

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