NASI falls 1.14% as NMG surges on heavy volume, Quickmart sets IPO price
The NSE All-Share Index closed at 244.72, down 1.14%, with 27 counters declining against 20 advancing. Commercial and Services led losses at -1.94%, while Construction and Allied (+0.67%) and Energy and Petroleum (+0.60%) were the only gainers among the day's sector moves. Turnover fell 40.4% below its 20-session average to KES 682.7mn, dominated by Nation Media Group (NMG), which jumped 9.97% to 16.55 and accounted for KES 351.1mn of value traded. Foreign investors were net sellers at KES -357.9mn, 30.3% of turnover, with NMG the largest foreign sale at KES -348.4mn against modest buying in KCB Group (KCB) and Safaricom (SCOM). Kenya Airways (KQ) and KUKZ were among the session's laggards.
Quickmart has set its NSE listing price at Sh7.50, offering two billion existing shares worth an expected Sh15bn, with a target dividend payout of at least 80% of profit after listing. In banking, I&M Bank Kenya confirmed Abdi Mohamed as CEO following CBK approval, while Family Bank (FMLY) signed a Sh1.3bn AfDB trade finance facility for SME lending. The Competition Authority cleared Cable Experts' acquisition of East African Cables (CABL), a TransCentury unit placed under receivership by Equity Bank (EQTY).
- Turnover
- KES 682.68M -40.40% vs 20-session avg
- Foreign net
- KES −357.90M 30.3% of turnover
- Traded
- 56 counters 20 up · 27 down
- Market cap
- KES 3.48T all listed counters