In Summary
  • Cooperative Bank, Safaricom and KCB Group have accounted for the bulk of the gains made in the past week.
  • The recent uptick in the market has also meant that the two main indices are now in the black year-to-date.
  • Seven out of the 11 listed bank banks saw their share prices gain last week, indicating that investors still see an upside in the stocks.

Investor wealth at the Nairobi Securities Exchange (NSE) has crossed the Sh2 trillion mark for the first time in six months, driven by gains in large bank stocks and Safaricom in the past week.

The NSE opened the week with a valuation of Sh2 trillion — though it retreated slightly to Sh1.99 trillion yesterday — having gone up by Sh40 billion in a week. This is the highest market cap level since the end of November 2016.

Cooperative Bank, Safaricom and KCB Group have accounted for the bulk of the gains made in the past week, during which their share prices have risen by 17.8, 1.3 and 10.6 per cent respectively.

The recent uptick in the market has also meant that the two main indices are now in the black year-to-date.

“During the week, the equities market was on an upward trend, taking the year-to-date performances for the NSE 20 and NASI to 1.8 per cent and 3.3 per cent respectively.

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