Safaricom hits new high amid surge in key index

NAIROBI, (Xinhua) — Safaricom hit a new high of 0.21 U.S. dollars Wednesday at the Nairobi Securities Exchange (NSE) as it sustained an upward trend amid rise in key index.

The new level is the highest the much sought-after share has stood this year, a 2.4 percent rise from Tuesday’s session.

During the session, most of the stocks recorded gains of up to 10 percent, with Umeme leading the chart of the top gainers.

Others were Unga (9 percent), CFC Stanbic (8 percent), Kenya Airways (7 percent) and Equity Bank (6 percent).

Some 25 million shares valued at 5.1 million U.S. dollars were traded, down from 50 million shares that were valued at 10 million dollars posted on Tuesday.

The rise in share prices saw the (NSE) 20 Share Index gain 59 points to hit a record high of 3,376.58.

Bond trading at the secondary market, similarly, went up with securities worth 60 million dollars traded, up from 40 million dollars.