Kenyan Equity market closed in green defying a 24.17pc depleted turnover

By David Indeje / September 2, 2017

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The Kenyan equity market  ended the week  in green despite turnover depleting by 24.17 percent.

The NSE 20 , NASI share index gained 22.18  and 22.00percent percent taking their YTD performance to 162.91 percent and 3887.28 percent respectively.

The value of trade was Ksh 4.18 Bn for the week.

During the week, Safaricom was the top traded counter both in the equities market as a whole and by foreign clients. The Telecommunication and Technology sector was the top gaining sector on the back of a 9.28 percent gain by its counter Safaricom Ltd (NSE: SCOM).

The Energy and Petroleum sector gained 7.01 percent  as a net effect gain of 5 out of its seven constituent counters.

The Investment Services sector topped the losers’ list after reversing its gains from the previous week to losing 6.32percent W-o-W.

Foreign participation increased by 21.9percent w-o-w to account for 52.75 percent of total market turnover in the week.

The top five foreign traded counters accounted for 95.44percent of total foreign participation.

Foreign investors increased their selling activity in Friday’s session, exiting heavily from Safaricom Ltd (NSE: SCOM); selling activity was also seen in Equity Group Holdings Plc (NSE: EQTY), Barclays Bank of Kenya Plc (NSE: BBK) and KCB Group Ltd (NSE: KCB).

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David Indeje is a writer and editor, with interests on how technology is changing journalism, government, Health, and Gender Development stories are his passion. Follow on Twitter @David_Indeje

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