Foreign investors remain net buyers  for the first time at Nairobi Bourse

All market indicators closed in the red in Thursday’s trading session with the Nairobi All Share Index (NASI),closing at 166.08 points, persisting a 4-session downtrend consecutively after touching its 2-year high (168.81 points) during Monday’s trading session.

“The NSE20 and NSE 25 came off 0.58% from the previous session and have been on a losing streak for the past two sessions following a 23-month high in Tuesday’s session,@ reported Genghis Capital.

The  market turnover halved to close at Ksh 0.56Bn compared to Wednesday’s close which rose 35.1 percent (Ksh1,138.66 million).

Equity Group Holdings Plc (NSE: EQTY) toppled Safaricom Ltd (NSE: SCOM) to be the top traded counter followed by Liberty Kenya Holdings ltd (NSE: CFCI) which saw a block traded by a foreign buyer and a local seller move the counter as it remained unchanged in price in the session.

KCB Group Ltd (NSE: KCB), Cooperative Bank of Kenya Ltd (NSE: COOP) and Safaricom Ltd (NSE: SCOM) were among the top five movers for the day with all but SCOM closing on lower prices as the latter held onto yesterday’s price. Foreign investor activity moved EQTY accounting for 57.8percent of the counter’s trades.

Foreign investors came into the market, 21.7 percent higher than the previous session, accounting for 65.6percent of the day’s trades.

“They bought into CFCI, KenolKobil Ltd (NSE: KENO), NIC Bank Ltd (NSE: NIC) which recorded the highest net inflows in the day. Sell-offs were seen in COOP, SCOM and KCB which were the top three foreign sold counters.”

Foreign investors were overall net buyers in Thursday’s session for the first time in six consecutive sessions (+2.45%). They have been taking profits in the past few sessions and majorly in banking counters.

Bond turnover expanded by 78.99 percent from the previous session to close at KES 2.7Bn on 41 deals compared to 29 (previously).