By Amina Faki,
Market turnover at bourse recorded a 30.3 percent increase to 564.11 million shillings from the previous trading on Tuesday.
The Equities turnover rose for the third session of the week (+30.3 percent d/d) as the major benchmarks diverted. Foreign trading maintained momentum for the third session, at 69 percent of the market activity.
NSE 20 gained 0.23 percent to close at 3,568.80 million shillings while NASI index lost 0.3 percent to close at 151.35 million shillings.
The Equities turnover rose for the third session of the week (+30.3 percent d/d) as the major benchmarks diverted. Foreign trading maintained momentum for the third session, at 69 percent of the market activity.
The large caps retained yesterday’s top trading spot, with Safaricom Ltd. (NSE: SCOM) holding as the favorite counter once again, continuing its downtrend, 1.1 percent lower (22.75 shillings).
East African Breweries Ltd. (NSE: EABL) saw increased activity (24.8 percent of the market), picked by local investors, closing 0.82 percent higher (247 shillings).
The Co-operative Bank of Kenya Ltd. (NSE: COOP) downtrend persisted for the third session, following books closure last Friday. The counter is trading 21.2 percent off its two-week high.
Foreign investors assumed a net selling position by accounting for 70.2 percent of total market sales and 67.7 percent of total market purchases.
Foreign participation held at 69 percent of total market activity with buying an interest in Centum Investments Co Plc (NSE: ICDC), and Crown Paints Kenya Ltd. (NSE: BERG). Selling positions continued on EABL for the second day, and Bamburi Cement Ltd. (NSE: BAMB). Overall, foreign investors turned net sellers (1.8 percent), in Wednesday’s session.
Kenya shilling, on the other hand, was on the receiving end as the shilling consistently weakening against three major currencies: the US Dollar, the Sterling Pound and the Euro by 1.25 percent, 6.97 percent, and 9.97 percent respectively.