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Kenyan Shilling Sheds Against US Dollar as US Economy Expands by 1.5%

BY · October 30, 2015 08:10 am

Thursday’s trading session saw the Kenyan shilling perform on a mixed reaction against its regional and international peers, apart from the US Dollar (USD), which registered shedding of 0.39% to 101.90 as new US economic growth data indicated an expansion of 1.5% in the third quarter. This was also off the US Federal Reserve held their rates, as an anticipated December hike remains in the offing. However, the shilling registered gains against the Sterling Pound (GBP) by 0.04% to 155.25, while the shilling made further gains against the Euro (EUR) by 0.76% to 111.61. On the regional front, the shilling gained 1.28% against the Tanzanian shilling (TZS) as the election still pans out, noting enhanced tensions in Zanzibar and acrimony emanating from the opposition party, Chadema and its leading presidential candidate, Edward Lewassa.

Foreign Investor Participation

The foreign participation substantially declined during Thursday’s trading session, accounting for 8.48% of total turnover against 91.52% of local participation. Sell off activities offset buy side, resulting in net outflows worth KES 14.78Mn relative to KES 60.83Mn net inflows on Wednesday.
Foreign investors accounted for 8.48% of the NSE turnover as compared to 85.81% on Wednesday.

Foreign investors engaged in net accumulative activities, resulting in net inflows worth KES 40.35Mn.

Equity Group Holdings Limited (NSE: EQTY) was the day’s highest traded stock, recording a turnover of KES 107.30Mn to account for 2.96% of total market activity and 33.30% of foreign investor activity, followed by British American Tobacco (NSE: BAT) with a turnover of KES 66.26Mn representing 1.83% of total market activity and 20.56% of foreign investor activity.

Safaricom Limited (NSE: SCOM) posted the day’s highest net inflows worth KES 17.20Mn and the day’s highest net outflows, worth KES 23.01Mn, were posted by Cooperative Bank Limited (NSE: COOP).

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