Foreign Investor Participation at the NSE Steady

Foreign Investor Participation

The foreign investor participation at the NSE was steady, accounting for 67.67% of total turnover against 32.33% of local participation. Accumulative activities took center-stage, resulting in net inflows worth KES 14.12Mn relative to net outflows worth KES 88.73Mn.

Foreign investors accounted for 67.67% of the total NSE turnover. Foreign investors engaged in net accumulative activities, resulting in net inflows worth KES 14.12Mn.

Safaricom Limited (NSE: SCOM) was the day’s highest traded stock, recording a turnover of KES 227.34Mn to account for 29.69% of total market activity and 44.42% of foreign investor activity, followed by Equity Holdings Limited (NSE: EQTY) which recorded a turnover of KES 147.50Mn representing 19.27% of total market activity and 28.82% of foreign investor activity.

Safaricom Limited (NSE: SCOM) posted the day’s highest net inflows worth KES 87.62Mn and the day’s highest net outflows, worth KES 53.54Mn, were posted by East African Breweries Limited (NSE: EABL).

Currency

The Kenyan Shilling (KES) held relatively steady during the midweek trading session as weakening against most peers was marginal. The USDKES exchange rate shed 0.06%, settling at 101.17 as dollar demand from most corporate remained muted. The Central Bank also stood on standby, ready to intervene and sell Dollars in case further pressures mounted. Meanwhile, on the regional front, the local unit prolonged losses against the South African Rand – as today’s trading session resulted in losses worth 0.27% (12:30pm GMT). The rand surged to its strongest level against the USD in more than a month and bonds advanced after Fitch Ratings affirmed South Africa’s investment-grade credit rating even as data showed the economy contracted in the first quarter.