The foreign investors accounted for 40.20 percent of total turnover against 459.80 percent of local participation at the Nairobi Security Exchange on Monday.
Distributive activities took center-stage, resulting in net outflows worth 6.64 million shillings relative to net outflows worth 45.97 million shillings that was witnessed on Friday.
The East African Breweries Limited (NSE: EABL) which recorded a turnover of 66.04 million shillings representing 12.97 percent of total activity and 32.26 percent of foreign investor activity, was the Monday’s highest traded stock, followed by Kenya Commercial Bank Limited (NSE: KCB), recording a turnover of 45.15 million shillings to account for 8.87 percent of total market activity and 22.05 percent of foreign investor activity.
Centum Investment Company Limited (NSE: ICDC) posted the day’s highest net inflows worth 6.95 million shillings and the day’s highest net outflows, worth 18.96 million shillings, were posted by Safaricom Limited (NSE: SCOM).
The shilling in focus
In a fairly quiet trading session on Monday, the Kenyan shilling rallied against four of its seven international and regional comparable, as economic shocks and data (from the previous week) maintained their hold on market sentiment.
The local currency shed against the US dollar, by 0.04 to close trading at 101.74; as the latter hovered around nine-month highs, against its own basket of currencies.
Support for the greenback came from increased optimism over the implications of a Trump presidency, most notably increased fiscal spending and tax cuts. The GBPKES followed suit, weakening by a significant 1.60 percent; as markets weigh in on the consumer inflation report and bank official statements on the economic outlook (to both be released on Wednesday).
The local currency shored up against the Euro, by 0.05 percent, despite a better-than expected reading on industrial production (MoM); although European Central Bank (ECB) President Mario Draghi is yet to speak, after markets close, and is likely to dampen investors’ confidence.