Equity and Safaricom Biggest Movers

Activity in the equities market decreased slightly as total turnover dropped to Kes 622mn from Kes 973mn previously with 21.5mn shares traded. International investors dominated the goings-on at the market as their total sales and total purchases accounted for 73% and 74% of the total turnover respectively.

Equity bank and Safaricom were the biggest movers. The NSE 20 Share Index added 17.68 points to end the day at 3,934.43 points while the All Share Index gained marginally to close at 146.21 points.

The bond market witnessed increased activity as total turnover significantly increased to Kes 2.36bn from Kes 877.70mn before. The number of deals transacted was up by 20 to 32 deals.

The Kenyan shilling was steady against the US dollar on Wednesday as it traded at an average of Kes 100.69 compared to a mean of Kes 100.52 Tuesday. The local currency is expected to hold in a range of between Kes 100.50 and Kes 100.80 for the rest of the week.

Article by Kingdom Securities Ltd.