Foreign Investors Account for 49.63% of NSE Turnover

Kenyan Shilling Tapers Against Peers

Against the US dollar, the Kenya shilling has dropped to its lowest level in four years shedding 0.86% with the USDKES 105.10. Increased end of the month dollar demand from importers and increased liquidity due to redemption of government securities and payment of contractors has resulted in pressures on the Kenyan Shilling.

Add to the mix, the continuing global emerging market sell off and the prospects for the shilling strengthening any time soon appear bleak, despite the monetary authority continuing to intervene in the money markets with the issue of KES 28Bn worth of securities. The Kenyan shilling weakened against other regional and global currencies with the exception being the South African Rand which weakened by 0.61%.

Foreign Investor Participation

Thursday was marked by foreign investors accounting for slightly less than half of the total day’s trading with participation standing at 49.63% of total turnover against 50.37% local participation. Foreign investors engaged positively on the buying side recording net inflows worth KES 110.57Mn compared to net inflows worth KES 77.94Mn the previous day.

Foreign investors accounted for 49.63% of the NSE turnover as compared to 50.37% on Monday. Foreign investors engaged in net accumulative activities, resulting in net inflows worth KES 110.57Mn.

CFC Stanbic Ltd (NSE: CFC) was the day’s highest traded stock, recording a turnover of KES 47.19Mn to account for 12.05% of total market activity and 24.28% of foreign investor activity, followed by Safaricom Ltd (NSE: SCOM) with a turnover of KES 36.77Mn representing 9.39% oftotal market activity and 18.92% of foreign investor activity.

Trading in CFC Stanbic Ltd (NSE: EQTY) posted the day’s highest net inflows worth KES 47.19Mn and the day’s highest net outflows, worth KES 13.64Mn, were posted by East African Breweries Ltd (NSE: EABL).