The shilling had a mixed performance during Wednesday’s trading session. The Kenyan shilling gained 0.03% to 101.97 against the US Dollar as demand continues to falter, with minimal corporate demand continuing. The shilling extended shedding against the Sterling Pound and the Euro by 0.47% and 0.56% respectively as the British Chamber of Commerce indicated that depressed UK growth outlook will keep BoE key rate low until Q3 2016. On the regional front, the South African Rand gained 0.54% following their weak performance on the previous day. However, South African inflation rates have edged up in November to 4.8%, the highest level since July.
Foreign Investor Participation
The foreign participation edged down during Wednesday’s trading session, accounting for 75.67% of total turnover against 24.33% of local participation. Sell off activities offset buy side, resulting in net outflows worth KES 84.79Mn relative to KES 13.79Mn net inflows on Tuesday.
Foreign investors accounted for 75.67% of the NSE turnover as compared to 60.91% on Tuesday. Foreign investors engaged in net accumulative activities, resulting in net outflows worth KES 84.79Mn.
East Africa Breweries Limited (NSE: EABL) was the day’s highest traded stock, recording a turnover of KES 212.23Mn to account for 26.45% of total market activity and 43.42% of foreign investor activity, followed by Kenya Commercial Bank Limited (NSE: KCB) with a turnover of KES 73.38Mn representing 9.14% of total market activity and 15.01% of foreign investor activity.
Safaricom Limited (NSE: SCOM) posted the day’s highest net inflows worth KES 3.43Mn and the day’s highest net outflows, worth KES 68.38Mn, were posted by East Africa Breweries Limited (NSE: EABL).