Kenyan Equities Market Close in Red, local Investors Dominate
By Soko Directory Team / September 14, 2017
Equities closed in the red in Wednesday’s session as all major indicators trended south on decreased turnover. Shareholder’s wealth decreased by 1.6 percent in the session as the number of shares traded echoed the negative trend down 27.4 percent to 23.26Mn from Tuesday’s session.
Local investors dominated the session accounting for 56.41 percent of total market activity. Foreign investors were still sellers in the session exiting Safaricom Ltd (NSE: SCOM), Equity Group Holdings Plc (NSE: EQTY), Bamburi Cement Ltd (NSE: BAMB) and KCB Group Plc (NSE: KCB). The foreign desk was mainly buying into Kenol Kobil Plc (NSE: KENO) and ARM Cement Plc (NSE: ARM).
Local investors were the traders on TPS Eastern Africa Ltd (NSE: TPSE) which was on the top traded list in today’s session albeit unchanged in price. The foreign desk is now a net seller for the past 19 consecutive sessions.
Bonds turnover grew 14.27 percent in the session to KES 2.45Bn on 83 deals compared to 31 deals traded previously.