Currency
Thursday’s trading performance of the shilling was the strongest this week. The Kenyan shilling extended its stable posture against the US Dollar (USD) by 0.02% to 102.39 following the Central Bank of Kenya MPC meeting holding the Central Bank Rate (CBR) and Kenya Bankers Reference Rate (KBRR) unchanged at 11.5% and 9.87%.
Further gains were advanced against the Euro (EU) and the Sterling Pound (GBP) by 0.07% and 0.53% respectively, as the ECB issues a policy statement on its Quantitative Easing programme. However, the shilling weakened against the South African Rand (ZAR) by 0.71% to 6.15 despite inflation figures jumping to 5.2% in December from 4.8% and ahead of the central bank meet slated for next week.
Foreign Investor Participation
The foreign participation edged up during Thursday’s trading session, accounting for 71.99% of total turnover against 28.01% of local participation. Sell off activities did not offset buy side, resulting in net inflows worth KES 17.65Mn relative to KES 57.56Mn net outflows on Tuesday.
Foreign investors accounted for 71.99% of the NSE turnover as compared to 63.24% on Wednesday. Foreign investors engaged in net accumulated activities, resulting in net outflows worth KES 17.65Mn.
Equity Group Holdings Limited (NSE: EQTY) was the day’s highest traded stock, recording a turnover of KES 164.74Mn to account for 32.89% of total market activity and 45.63% of foreign investor activity, followed by Kenya Commercial Bank Limited (NSE: KCB) with a turnover of KES 84.01Mn representing 16.77% of total market activity and 23.30% of foreign investor activity.
Diamond Trust Bank Kenya (NSE: DTK) posted the day’s highest net inflows worth KES 10.55Mn and the day’s highest net outflows, worth KES 8.27Mn, were posted by Safaricom Limited (NSE: SCOM).