Kenyan Shilling Holds Firm

Equities

Trading in the equities market declined slightly as turnover dropped to KES 765Mn from KES 934Mn earlier with 29.5Mn shares changing hands. Foreign participants’ purchases and sales slowed down when compared to yesterday as it accounted for 69% and 65% of the total turnover respectively. Safaricom, Equity bank,KCB,Kengen and Co-operative bank were the day’s top movers. The NSE 20 Share Index increased marginally by 0.52 points to end the day at 3,798.26 points while the All Share Index moved up to close at 145.43 points.

Currencies

The Kenyan shilling firmed on Wednesday, boosted by lackluster appetite for the greenback as players from commercial banks and corporate firms largely stayed on the sidelines. At mid-morning, Commercial banks quoted the shilling at 101.05/15 compared to Tuesday’s close of 101.15/101.25.

Article by Kingdom Securities Ltd.