Safaricom shares toy with Sh30 as results announcement looms

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Safaricom record share price was overpriced by Sh250 billion

With a day to go Safaricom results have moved the share price between Sh28.25 and Sh29.00.

Monday’s biggest share traded with 16 million shares valued at Sh461 million representing 54.53 per cent of the day’s traded value.

The NSE 20 share Index was down 28.50points to stand at 3671.28 while the all Share Index (NASI) shed 0.11 points to settle at 179.25 and the NSE 25 Share index was down 9.17 points to stand at 4680.07.

Safaricom and Equity Bank were the leading movers, jointly accounting for 74.9 per cent of total turnover.

Equity Group Holdings actively moved 3.4 milion shares valued at Sh172 million at between Sh51.00 and Sh51.50.

KenolKobil was the leading gainer in the top movers list, touching an all-time high of Sh18.95 on local investor buying.

Foreign investors persisted with their net selling position, registering net outflows of $3.7 million. Safaricom recorded the bulk of the outflows at $ 3.8 million while Barclays led the inflow list at $709,000.

The Energy & Petroleum Sector had shares worth Kes.50.7M traded & accounted for 6.00% of the

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