Kenyan Shilling Holds Steady Against US Dollar

Equities

Trading activity started the week on a lower note as total turnover dropped to Kes 255mn with 12mn shares changing hands. Foreign investors’ demand stood at 58% while local investors’ supply was recorded at 66% of the total turnover respectively. Safaricom, Carbacid, Equity bank, Kengen and Kenya Airways moved the most shares. The NSE 20 Share Index slid to 3,907.09 points while the all share index was down too to 146.31 points.

The bond market registered an increase in turnover to Kes 1.16bn from Kes 800mn previously. The number of deals transacted remained unchanged at 6.

The Kenyan shilling held steady against the US dollar as it traded at an average of Kes 100.67 compared to a closing mean of Kes 100.60 on Friday. 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.