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Kenyan Shilling Makes Modest Gains Against Sterling Pound

BY Soko Directory Team · January 8, 2016 06:01 am

Foreign Investor Participation

Foreign participation at the NSE was robust during Thursday’s trading session, accounting for 70.39% of total NSE turnover, whilst local participants accounted for the remaining 29.61%. A significant number of foreigners took accumulative positions resulting in net inflows worth KES 36.18Mn relative to net inflows worth KES 6.04Mn on Wednesday.

Foreign investors accounted for 70.39% of the NSE turnover as compared to 77.59% on Wednesday. Foreigners were dominant on the accumulative front, resulting in net inflows worth KES 36.18Mn.

Kenya Commercial Bank Limited (NSE: KCB) was the day’s highest traded stock, recording a turnover of KES 77.59Mn to account for 22.66% of total market activity and 32.19% of foreign investor activity, followed by British American Tobacco Limited (NSE: BAT) which posted a turnover of KES 75.76Mn representing 22.12% of total market activity and 31.43% of foreign investor activity.

Equity Holdings Limited (NSE: EQTY) posted the day’s highest net inflows worth KES 27.91Mn and the day’s highest net outflows, worth KES 1.44Mn, by Trans-Century Limited (NSE: TCL).

Currency

The Kenyan Shilling (KES) marked gains as the week began to take shape. Modest strengthening was reported against the Sterling Pound (GBP) and the Euro (EUR) as the KES edged up by 0.31% and 0.06%, respectively.

Meanwhile, the USDKES exchange rate remained anchored – closing the day’s trading session at 102.26 (+0.01%); gathering support from dollar inflows which were channelled into the Nairobi Stock Exchange as foreign investors took advantage of discounted prices at the bourse. Nonetheless, trader’s sense mounting pressures for the KES in the following week as dollar demand is expected to rise once corporates and importers resume fulltime trading following the holiday season.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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