EQUITIES:
Trading activity increased significantly as turnover jumped to Kes 637mn from Kes 232mn previously with 21mn shares changing hands. Foreign investors’ demand and supply rebounded as their demand and supply accounted for 76.70% and 61.72% of the total turnover respectively. Equity bank, KCB, Kenol, Kengen and Co-op bank were the day’s top movers. The NSE 20 Share Index recovered 11.45 points from yesterdays’ loss to close the day at 3,878.42 points while the All Share Index slightly edged up to end the day at 145.74 points.
FIXED INCOME:
The bond market witnessed a marginal increase in total turnover as it increased to Kes 1.93bn from Kes 1.87bn previously. The number of deals transacted rose to 20 from 26 before.
CURRENCY:
The Kenya Shilling traded at a mean of Kes 100.83 against the US dollar on Wednesday having slightly weakened from yesterday’s average of Kes 100.71 against the dollar. The rise in global oil prices had put pressure on Kenya’s currency on Tuesday because of concerns it would lead to a higher fuel import bill.
Article by Kingdom Securities Ltd.