Safaricom, Equity, Co-op bank, KCB and CIC Insurance Top Movers

Equities

Activity in the equities market increased considerably as turnover climbed to KES 953Mn from KES 502Mn previously with 30.92Mn shares traded. Foreign investors dominated the day’s business as their total purchases and total sales accounted for 94% and 77% of the total turnover respectively. Safaricom, Equity bank, Co-op bank,KCB and CIC Insurance were the top movers. The All Share Index dropped marginally to close at 143.51 points while the NSE 20 Share Index lost 28.24 points to end at 3,799.57 points.

Fixed Income

The bonds market recorded a slight decrease in activity as turnover dropped to KES 3.7Bn from KES 4.4Bn before with 23 deals transacted down from 41 on Tuesday.

Currencies

The Kenya shilling was stable on Thursday having being supported by dollar supply from sectors such as agriculture and it is expected to trade within a narrow range as importer demand will be matched by dollar supply from the agricultural sector and others. At 0958 GMT, commercial banks quoted the shilling at KES 100.80/80, the same as Tuesday’s close. Kenyan markets were closed on Wednesday for a national holiday.

Article by Kingdom Securities Ltd.