Accumulative Activities Dominate Foreign Investor Front

Foreign Investor Participation

The foreign investor participation mellowed during Tuesday’s trading session, accounting for 57.40% of total turnover against 42.54% of local participation. Accumulative activities were dominant, resulting in net inflows worth KES 12671 Mn relative to net inflows worth KES 7.87Mn.

Foreign investors accounted for 57.40 of the total NSE turnover compared to 84.01% the previous day. Equity Holdings Limited (NSE: EQTY) was the day’s highest traded stock, recording a turnover of KES 109.16Mn to account for 19.96% of total market activity and 34.74% of foreign investor activity, followed by Safaricom Limited (NSE: SCOM) which recorded a turnover of KES 95.40Mn representing 17.44% of total market activity and 30.36% of foreign investor activity.

Equity Holdings Limited (NSE: EQTY) posted the day’s highest net inflows worth KES 90.41Mn and the day’s highest net outflows, worth KES 1.91Mn, were posted by Nairobi Stock Exchange (NSE: NSE).

Currency

KES Holds within a Tight Range

The Kenyan Shilling (KES) held relatively steady with a bias towards the gaining end during Tuesday’s trading session after the Central Bank’s monetary policy committee reduced its Key Lending rate by a 100bps to 10.50% as it noted that it expected inflation to decline further. The USDKES marginally weakened by 0.13% to 100.93 (12:30pm GMT) as dollar demand from importers accelerated. On the regional front, the local unit pared gains against all regional peers, posting the strongest gain weakened as a result of increased supply of Ugandan Shillings.

Article by Genghis Research.