Equity Bank, Safaricom, KCB, Mumias and Kengen Top Movers

Equities

Trading activity in the equities market increased as turnover rose to KES 847Mn from KES 547Mn yesterday. Foreign investors mainly bought while their local counterparts mainly sold with their overall movements accounting for 80% and 54% of the total turnover respectively. Equity Bank, Safaricom, KCB, Mumias and Kengen were the top movers. The NSE 20 Share Index gained 16.14 points to close the day at 3,912.33 points while the All Share Index slid marginally to end the day at 146.27 points.

Fixed Income

The bonds market recorded a slight reduction in activity as total turnover dropped to KES 6.6Bn from KES 10.1Bn yesterday. The number of deals transacted increased to 50 from 24 before.

Currencies

The Kenya Shilling traded stronger than the US dollar on Wednesday at a mean of KES of 100.87 compared to an average of KES 100.93 previously supported mainly by banks selling dollars after the central bank cut its current account deficit forecast for this year.

Article by Kingdom Securities Ltd.