The Kenyan Shilling extended gains against the US Dollar, registering a 0.06% gain to close trading at 102.29; as the greenback held relatively steady amidst no economic data. The Federal Reserve Interest Rate Decision is to be released tonight, with a high probability of the rate being held steady, therefore a volatile USDKES is expected to open trading tomorrow. Across the pond, the Kenyan shilling shed points against the Sterling Pound, despite poor housing data emanating from the island. On the regional front, the shilling gained against both the Tanzanian shilling and Ugandan shilling, by 0.05% and 0.19% to close trading at 21.42 and 34.03 (respectively).
The foreign participation rallied up during Wednesday’s trading session, accounting for 82.30% of total turnover against 17.70% of local participation. Sell off activities offset buy side, resulting in net outflows worth KES 18.05Mn relative to KES 5.23Mn net outflows on Tuesday.
Foreign investors accounted for 82.30% of the NSE turnover as compared to 72.26% on Tuesday. Foreign investors engaged in net distributive activities, resulting in net outflows worth KES 5.23Mn.
British American Tobacco Limited (NSE: BAT) was the day’s highest traded stock, recording a turnover of KES 103.92Mn to account for 18.30% of total market activity and 22.24% of foreign investor activity, followed by Kenya Commercial Bank Limited (NSE: KCB) with a turnover of KES 95.45Mn representing 16.81% of total market activity and 20.43% of foreign investor activity.
Diamond Trust Bank Kenya Limited (NSE: DTK) posted the day’s highest net inflows worth KES 3.10Mn and the day’s highest net outflows, worth KES 13.42Mn, were posted by WPP ScanGroup Limited (NSE: SCAN).
Research by Genghis Capital.