Foreign Investors Account for more than 80 Percent At the Bourse

Safaricom Ltd (NSE: SCOM) was the most actively traded stock today accounting for 58.79 percent of the total market value traded activity. KCB Group Ltd (NSE: KCB) also registered high levels of activity, accounting for 14.97 percent of the total market turnover.

I&M Holdings Ltd (NSE: I&M) capped the gainers chart, posting a 9.09 percent increase to close the day at 90.00 shillings. Atlas African Industries Ltd (NSE: ADSS) followed suit, registering a 9.09 percent gain to close at KES 1.20.

Umeme Ltd (NSE: UMME) emerged as the top laggard of the day, plummeting by 8.79 percent to close at KES 15.05. Eveready E.A Ltd (NSE: EVRD) similarly lost ground by 6.98 percent to close at 2.00 shillings

Foreign investors accounted for 88.08 percent of total turnover against 11.92 percent of local participation. Accumulative activities took center-stage, resulting in net inflows worth 76.37 million shillings relative to net inflows worth 245.58 million shillings on Wednesday.

Foreign investors accounted for 88.08 percent of the total NSE turnover. Foreign investors engaged in net accumulative, resulting in net inflows worth 76.37 million shillings. Safaricom Limited (NSE: SCOM) which recorded a turnover of 1,146.86 million shillings representing 57.39 percent of total activity and 65.16 percent of foreign investor activity, followed by Kenya Commercial Bank Limited (NSE: KCB) which recorded a turnover of 283.98 million to account for 14.21 percent of total market activity and 16.13 percent of foreign investor activity.

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Equity Group Holdings Limited (NSE: EQTY) posted the day’s highest net inflows worth KES 76.66Mn and the day’s highest net outflows, worth 21.24 million shillings, were posted by the Co-operative Bank of Kenya Limited (NSE: COOP).

On Thursday, the Kenyan shilling posted a mixed performance against its international currency peers. The local currency strengthened a marginal 0.03 percent against the US Dollar to close trading at 101.33. The greenback has been on a lull as the much awaited US non-farm payroll data for August is set to be announced tomorrow.

The GBPKES pair shed off 0.07 percent on the heels of a better-than-expected UK monthly Manufacturing data. The figure which came in at 53.3 against an expected 49 has been interpreted as a mark of the nation’s resilience post-Brexit.

The shilling closed 0.20 percent higher against the Euro at 112.86 as manufacturing activities in the past month was seen to have subsided. The August PMI data for the common monetary block came in lower at 51.7. On the regional front, the shilling remained steady against the South African rand at 7.00 as embattled Finance Minister Privan Gordhan defended his conduct in the Hawks probe.