Safaricom Hits All-time High; Stock Up 3% at Ksh 44.90

Safaricom shares have again hit an all time high at the bourse trading at Ksh 45 during Tuesday's session.

Safaricom Branch along Kenyatta Avenue PHOTO: KHUSOKO

Shares of Safaricom, Kenya’s biggest telecoms operator hit an all-time high of Ksh 44.90, up 3 per cent on the Nairobi Securities Exchange in the intra-day trade on Tuesday.

The stock of the telecom services provider surpassed its previous high of Ksh43.60 on Monday.

It moved Ksh 12 Million shares during the session.

During the session, a total of 23,432,900 shares in 1,445 deals, equivalent to a market value of Ksh 1,655,638,107.00, were traded.

This was a 128 per cent improvement in volume, 240 per cent improvement in turnover, and 32 per cent improvement in deals.

The current market capitalization of the NSE is Ksh 2.85 trillion.

“The soaring market activity is an indicator that the companies listed at the exchange are growing steadily,” said Mr Geoffrey Odundo, CEO of Nairobi Securities Exchange in a statement following Tuesday’s activity.

“I would like to encourage companies to look no further than the NSE for their capital raising while strengthening the company’s structure and reputation,” he added.

According to market analysts, activity on the Nairobi bourse remains skewed towards banks and Safaricom, which account for about 70 per cent of the market capitalization.