Safaricom accounts for an 80 percent increase in investor wealth at the Nairobi Securities Exchange (NSE) since the year began, new data has shown.
Since the year started, Safaricom, BAT Kenya and East Africa Breweries Limited (EABL) accounted for 92 percent of the increase in investor wealth at NSE.
In total, investor wealth at NSE reached a high of Ksh199.12 billion, with the three stocks accounting for Ksh183.86 billion, representing 92.3 percent.
Safaricom, BAT and EABL are the only companies that have recorded double-digit growth since the year started, giving a false impression of a bull run at the bourse.
The three companies have had a major influence on key market indicators, making it hard for investors to measure the real performance of the stock market.
BAT is the biggest gainer at the bourse in 2021, with its shares closing at Ksh437 a piece on Wednesday, February 17.
On the other hand, EABL saw its share rise 13.2 percent to Ksh174.50, while Safaricom gained 11 percent to Ksh38.25 in the period under review.
Safaricom alone is worth more than all the other listed firms combined, with its valuation of Ksh1.53 trillion accounting for 60.4 percent of the NSE’s market capitalisation.