Equity markets commenced with a mixed week

Equities started the week on a mixed performance with the NASI and NSE 25 closing 0.40 percent and 0.12percent higher (respectively) while the NSE 20 settled 0.3 percent lower than in the previous session.

Turnover burgeoned in the session, up 123.9 percent to USD 10.01Mn  on the back of block trades on Equity Group Holdings Plc (NSE: EQTY), Safaricom Ltd (NSE: SCOM) and East African Breweries Ltd (NSE: EABL) which were the top three traded counters in the day.

Foreign investors persisted their selling positions albeit at a lower level (18.87percent compared to 58.7 percent previously).

Foreign activity accounted for 74.5percent mainly selling SCOM, EQTY, KCB Group Ltd (NSE: KCB) and Bamburi Cement Ltd (NSE: BAMB) while buying was notably into Centum investments Co. Plc (NSE: ICDC).

The foreign desk has been exuding net selling activity in the past 17 consecutive sessions.
Bonds turnover rose by 40.26 percent in the session to KES 1.71Bn on 31 deals compared to 64 deals (previously).

Courtesy of Genghis Capital