Co-operative Bank was the most actively traded counter at the Nairobi Securities Exchange (NSE) on Monday, 21st September 2020, moving a total of 1.99 million shares at a price of Ksh11.90, a slight decline from the previous Ksh12.00, replacing Safaricom as the most dominant counter at the bourse.
The counter has been inspired largely by the successful conclusion of its acquisition of Jamii Bora Bank, which it has renamed Kingdom Bank. Also, banks are among few counters that recorded positive growth in profitability for the half-year ending June 2020 and investors are moving in to cash in on expected dividend payouts.
Other counters that also overtook Safaricom were KCB and Equity Group, taking the first three top movers at the bourse. KCB moved a total of 1.57 million shares at a price of Ksh38.00 with foreign investors dominating this counter, resulting in a turnover of Ksh59.52 million.
Equity Group was the third most active counter with its activities attracting foreign investors, who accounted for 95.9% of overall activity on this stock, resulting in a turnover of Ksh54.55 million.
Safaricom, traditionally the most traded counter at the NSE ceded the position and moved Ksh42.62 million worth of shares at the price of KSh 29.90.Total equity turnover at the bourse halved to Ksh203.44 million on a volume of 8.40 million shares, down from Ksh453 million recorded at the end of Friday 18th September 2020.
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