Shilling Maintains Relatively Flat Streak Against USD

By Soko Directory Team / March 30, 2016



kenyan-shilling-against us-dollar-rates

Currency

The Kenyan shilling commenced the week’s trading on a mixed performance, having registered three gains and shed against four of its major regional and international peers. The local unit weakened by 0.01% against the US Dollar (USD) as minimal pressure maintained after the Easter break. On the other hand, the shilling extended gains against the Sterling Pound (GBP) by 0.43% to level at 143.44 as Brexit concerns continues to add volatility on the Pound. Further gains of 0.44% against the Euro (EUR) were advanced on account of weaker than forecasted Italian Business Confidence levels, despite February monetary supply figures remaining flat at 5%.

Foreign Investor Participation

The foreign participation significantly edged lower during Tuesday’s trading session, accounting for 53.26% of total turnover against 46.74% of local participation. Sell off activities did not offset buy side, resulting in net inflows worth KES 67.59Mn relative to KES 42.69Mn net outflows on Thursday.

Foreign investors accounted for 53.26% of the NSE turnover as compared to 53.30% on Thursday. Foreign investors engaged in net accumulative activities, resulting in net inflows worth KES 67.59Mn.

Safaricom Limited (NSE: SCOM) was the day’s highest traded stock, recording a turnover of KES 76.51Mn to account for 17.53% of total market activity and 32.91% of foreign investor activity, followed by KenolKobil Limited (NSE: KENO) with a turnover of KES 47.36Mn representing 10.85% of total market activity and 19.21% of foreign investor activity.

KenolKobil Limited (NSE: KENO) posted the day’s highest net inflows worth KES 45.28Mn and the day’s highest net outflows, worth KES 2.97Mn, were Commercial Bank Limited (NSE: KCB).


Article by Genghis Research.

 

 



About Soko Directory Team

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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