Foreign Investors Participation Remains High

Foreign Investors Participation Remains High

The Kenyan Equities market sustained weak performance throughout the week closing on a bleak state. The NSE-20 Share Index cut back a further 0.59% to close at 4017.34 points whilst the NSE-25 Share Index slumped by 0.64% to close at 4148.28 points.

Nairobi All Share Index (NASI) declined by 0.37% to close at 141.87. Investors’ wealth similarly contracted by 0.38% to perch at KES 1,995.52 billion whilst equity turnover bucked the trend, advancing significantly by 41.60% to KES 0.392 billion. The market breadth, an unbiased measure of the market performance showed that conditions deteriorated; as the number of stocks that declined, 23, outweighed the number of stocks that advanced, 12.

It’s a wrap at the Kenyan equities market and the flight to the south seemed to have carried the week. Dismal performance was evident regardless of foreign investor participation remaining heavy during the week as they dominated the bourse averaging 72% of total turnover.

Banks counters such as Kenya Commercial Bank Ltd (NSE: KCB) and Equity Group Holdings (NSE: EQTY) were the highest traded stocks, accounting for an average foreign participation of 35.78% and 33.17% respectively.

Other blue chip counters that were of foreigners interest includes; East African Breweries Ltd (NSE: EABL) and Safaricom Ltd (SCOM), which recorded a 33.04% and 23.30% of foreign investor activity.

Equity Market Highlights

Kenya Commercial Bank Ltd (NSE: KCB) was the most actively traded stock accounting for 25.78% of the total market activity on account of heightened foreign activity on the stock. WPP Scangroup Ltd (NSE: SCAN) clocked in second, accounting for 20.73% of the days traded value.

Express Kenya Ltd (NSE: XPRS) topped the gainers list with a price appreciation of 8.33% to close the day at KES 4.55. B.O.C Kenya Ltd (NSE: BOC) edged up 4.46%, to close the day as the second best gainer closing at KES 117.00.

WPP Scangroup Ltd (NSE: SCAN) was the top straggler of the day, declining by 6.90% to KES 27.00. Standard Group Ltd (NSE: SGL) followed suit, depreciating by 5.88% to KES 32.00.