Kenyan Shilling Expected to End Week on Gains

Foreign Investor Participation

The foreign participation edged up during Thursday’s trading session, accounting for 75.68% of total turnover against 61.63% of foreign participation recorded yesterday. Buy side activities offset sell offs, resulting in net inflows worth KES 14.61 Mn, relative to KES 521.07 Mn in net inflows on Wednesday.

Foreign investors accounted for 75.68% of the NSE turnover as compared to 61.63% on Wednesday. Foreign investors engaged in net accumulative activities, resulting in net inflows worth KES 14.61 Mn.

East African Breweries Limited (NSE: EABL) was the day’s highest traded stock, recording a turnover of KES 92.21 Mn to account for 21.64% of total market activity and 28.59% of foreign investor activity, followed by Equity Group Holdings Limited (NSE: EQTY) with a turnover of KES 90.18 Mn representing 21.16% of total market activity and 27.96% of foreign investor activity.

Safaricom Limited (NSE: SCOM) posted the day’s highest net inflows worth KES 4.48 Mn and the day’s highest net outflows, worth KES Mn were posted by Sasini Limited (NSE: SASN).

The Kenyan shilling continued to record gains during Thursday’s trading session against all its major regional and international peers as it is set to claw progressive gains by the close of the week. The shilling gained 0.32% against the US Dollar (USD) to hit 104.54 following the release of US jobless data indicating a more than expected increase with further clarity being awaited to gauge the likelihood of a near-term interest rate hike by the Fed.

Further gains were registered against the Sterling Pound (GBP) and the Euro (EUR) by 0.62% and 0.82% respectively, with data indicating that Italian and German PMI fell below expectations.