Kenyan Shilling Closes Week on Modest Gains
The Kenyan shilling ended the week’s trading on a mixed note during Friday’s trading session against all its major regional and international peers. Gains were registered against the US Dollar; edging up by 0.32% to 104 as foreign inflows continue to support the shillings gains, coupled with US Labour department data indicating that employers added fewer jobs in September that analysts forecasted.
The Kenyan shilling exuded shedding against the Sterling Pound (GBP) by 0.19% to 158.29 following UK house building expansion at the fastest pace in a year as at September, indicating stronger uptick in growth rates. Further shedding was registered against the Euro (EUR) by 0.40% to 116.92.
Foreign Investor Participation
The foreign participation edged up during Friday’s trading session, accounting for 79.80% of total turnover against 75.68% of foreign participation recorded the previous day. Sell off activities offset buy side, resulting in net outflows worth KES 9.05 Mn, relative to KES 14.61 Mn in net inflows on Thursday.
Foreign investors accounted for 79.80% of the NSE turnover as compared to 75.68% on Thursday. Foreign investors engaged in net distributive activities, resulting in net inflows worth KES 9.05 Mn.
Safaricom Limited (NSE: SCOM) was the day’s highest traded stock, recording a turnover of KES 181.70 Mn to account for 24.58% of total market activity and 30.80% of foreign investor activity, followed by Equity Group Holdings Limited (NSE: EQTY) with a turnover of KES 166.46 Mn representing 22.52% of total market activity and 28.21% of foreign investor activity.
Jubilee Limited (NSE: JUB) posted the day’s highest net inflows worth KES 17.80 Mn and the day’s highest net outflows, worth KES Mn were posted by East African Breweries Limited (NSE: EABL).
