Safaricom, banks lift bourse to Sh2.17trn

Safaricom #ticker:SCOM and several listed banks recorded significant rallies last week, helping to lift total market capitalisation of the Nairobi bourse by Sh43 billion to Sh2.179 trillion on Friday.

The telco and lenders touched new highs extending the market’s fresh recovery that started in March.

Safaricom gained 3.45 per cent in the week to close at Sh22.5, which assigned it a record-setting value of Sh901.4 billion. The telco, which has been boosted by strong results for the year ended March, touched an all-time high of Sh23.

At 9.89 per cent, I&M Holdings #ticker:I&M gained the most among banks to close at a new high of Sh100. It was followed by NIC Bank #ticker:NIC, which jumped 5.79 per cent to trade at a new high of Sh32.

Barclays #ticker:BBK gained 4.65 per cent to trade at Sh9, followed by Equity Group #ticker:EQTY which climbed 3.29 per cent to close at Sh39.25.

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