Equities Close South at Week’s Open at the Nairobi Securities Exchange

Equities’ nosedived at week’s open with all benchmarks closing south on 28.9 percent lower turnover.

Safaricom Ltd topped trading closing 1.01 percent lower during the day in a streak of 4 straight days of sell-offs. The subsequent top active counters were unchanged in price during the session.

Foreign investors accounted for 64.8 percent of the day’s market turnover, similar to the previous session. Bullish activity was heavy on KenolKobil Plc, Equity Group Holdings Plc and Britam Holdings Plc.

Sell-offs were mostly on KCB Group Ltd, Jubilee Holdings Ltd, and Diamond Trust Bank Ltd. The session closed on the net selling side by foreign investors.

Bonds turnover rose to 1.9 billion shillings from 3.9 billion shillings on 42 deals compared to 75 dealt previously.

Here is how both the banking and the agricultural sectors performed on Monday: