Thursday’s Foreign Investor Participation Significantly Dips

Currency

The Kenyan Shilling (KES) displayed mixed performance against local and regional peers as the week began to take shape. Marginal gains were reported against the USDKES and GBPKES whilst losses locked against the South African Rand, Ugandan Shilling and Euro (EUR). The local unit held ground and marginally shed 0.05 points against the USD as dollar demand remained feeble – closing the day’s trading session at 100.63 (12:30PM GMT). Meanwhile, across the pond, the greenback held its strength against major peers despite poor economic data which indicated that U.S. jobless claims unexpectedly rose last week.

Foreign Investor Participation

The foreign investor participation significantly dipped during Thursday’s trading session, accounting for 27.74% of total turnover against 72.26% of local participation. Sell-offs outweighed buying activities, resulting in net outflows worth KES 26.12Mn relative to net inflows worth KES 2.56 Mn the previous day.

Foreign investors accounted for 27.74% of the total NSE turnover as compared to 73.82% on Wednesday.

Umeme (NSE: UMME) was the day’s highest traded stock, recording a turnover of KES 23.04Mn to account for 9.65% of total market activity and 34.79% of foreign investor activity, followed by Safaricom Limited (NSE: SCOM) which recorded a turnover of KES 11.34Mn representing 4.75% of total market activity and 17.13% of foreign investor activity.

Safaricom Limited (NSE: SCOM) posted the day’s highest net inflows worth KES 6.10Mn and the day’s highest net outflows, worth KES 23.04Mn, wereposted by Umeme (NSE: UMME).

Article by Genghis Research.