The foreign investors accounted for 92.28 percent of total turnover against 7.72 percent of local participation at the bourse on Tuesday.
Distributive activities took center-stage, resulting in net outflows worth 2.52 million shillings relative to net outflows worth 2.30 million shillings that was witnessed on Friday.
Safaricom Limited (NSE: SCOM) recorded a turnover of 88.62 million shillings, representing 51.98 percent of total activity and 56.33 percent of foreign investor activity; as the day’s highest traded stock. Equity Group Holdings Limited (NSE: EQTY) came second, recording a turnover of 57.71 million shillings; to account for 15.90 percent of total market activity and 17.24 percent of foreign investor activity. KenolKobil Limited (NSE: KENO) posted the day’s highest net inflows worth 2.99 million shillings. The day’s highest net outflows, worth 6.28 million shillings, was posted by East African Breweries Limited (NSE: EABL).
In other market news, the Kenya shilling started 2017 trading session on a high note as it recorded gains against five of the seven international and regional currency peers. Against the US dollar, the local unit eased 0.24 percent weighed down by a surge in dollar demand from importers. The USDKES pair closed the session at a high of 102.75.
On a technical basis, the USDKES pair has breached the 102.44 level and upward momentum still persists (refer to the technical chart below). Across the pond, the shilling clawed 0.06 percent against the British pound, despite Markit UK PMI manufacturing reading for the month of December that showed an improvement to 56.1 from 53.6.
In equal measure, the local unit gained 1.35 percent against the Euro currency to close at 106.66. Economic release from Eurozone’s largest economy, Germany showed positive data with December preliminary inflation showing an uptick to 1.70 percent from 0.8 percent in November, boosted by Christmas festivities. On the regional front, the shilling advanced 0.09 percent and 0.88 percent, against the Uganda shilling and Tanzanian shilling (respectively).