Foreign Investors Dominate Trading at the Kenyan bourse

By Amina Faki

The equities market at the bourse on Tuesday recorded 8.3 percent decline to 10.27 US dollars approximately 1,067.02 million shillings from Monday’s trading.

“Equities closed higher for the second day of the week, and for the 6th successive session, despite activity slowing by an average 8.4 percent compared to the previous session,” noted Analysts from Genghis Capital.

The NSE 20 and NASI indices on the other hand, gained 0.57 percent and 0.28 percent to close at 3,679.43 million shillings and 154.06 million shillings respectively. This was a 12 month high ‘indicating a general bullish sentiment on the large cap counter.’

Selling was focused to  EQTY  with a net outflow of KES 82.6Mn, with the counter closing 1.94 percent higher.

Receiving the highest foreign flow was WPP Scangroup Ltd (NSE: SCAN) with an inflow of KES 12.1Mn, despite the counter having been of low interest to foreign.

Bond turnover closed at KES. 1.60Bn, 58.5% higher from the previous session, on 29 deals compared to 37 (previously).

Local investors occupied the minority activity in the market with the net selling position at the market assumed by foreign investors accounting for 72.7 percent of the total market sales and 51.7 percent of the market purchases.