Bond turnover at NSE dips 38.71pc from Friday’s trading

By Soko Directory Team / July 15, 2017

Eurobond

By Amina Faki

Market turnover at the bourse recorded a 52.0 percent decline for the second successive session to 8.21 million US Dollars equivalent to 853.3 million shillings from Friday’s trading.

The benchmarks diverged after the uptrend observed during the week. Local investors maintained their Thursday’s activity, as overall participation balanced out between foreigners and locals. 

Foreign investors traded 51 percent of the market, accelerating their exit positions for the third consecutive session assuming a net buying position by accounting for 64.5 percent of total market purchases and 37.4 percent of total market sales.

Activity was high on KCB Group Ltd (NSE: KCB), East African Breweries Ltd (NSE: EABL), Nairobi Securities Exchange Plc (NSE: NSE) and Umeme Ltd (NSE: UMME).

Stanbic Holdings Plc (NSE: CFC) received the highest net inflow. Exited were KCB,  EABL and Bamburi Cement Ltd (NSE: BAMB). Overall, foreigners continued their sell-off for the third day today (-26.7 percent).

Bond turnover closed at 1.01 billion shillings, 38.71 percent lower from the previous session, on 38 deals compared to 55 (previously).

NSE 20 declined 0.45 percent to close at 3,642.90 million shillings while NASI index on the other hand gained 0.09 percent to close at 153.13 million shillings.

The performance of the Kenya shilling on the other hand, relatively weakened against three major currencies; the dollar the pound and the euro by 1.37 percent, 7.17 percent and 10.68 percent respectively.



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