Equities’ posted mixed performance with both NASI and NSE 25 indices edging lower while NSE 20 Index gained.
Equity Group Holdings topped trading unchanged in price in the session hitting 144.51 million in turnover. Safaricom Ltd and Barclays Bank of Kenya Ltd subsequently followed suit. The top five traded stocks exuded bearish sentiment.
Foreign investors accounted for 57.3 percent of the Thursday’s market turnover, lower than in Wednesday’s session (77.0%). Bullish activity was heavy on Centum Investments and Britam Holdings. Sell-offs were mostly on EQTY, SCOM, and BBK. The session closed on the net selling side by foreign investors.
Bonds turnover fell to 1.6 billion shillings from 2.8 billion shillings in 57 deals compared to 49 dealt previously.
In a report released by Fusion Capital, in September 2017, bond yields in Kenya increased on 3-, 10- and 20-year tenure, while yields on 5-year tenor remained flat. Whereas bond yields in Nigeria decreased across all tenors during the month.
According to the report, Kenyan shilling and Nigerian naira depreciated against the USD, while Ugandan shilling and Tanzanian shilling remained flat and Ghanaian cedi appreciated. The Kenyan shilling depreciated to KES 103.3 against the US dollar, primarily due to increased dollar demand from manufacturers and oil importers for meeting their month-end obligations.
The Ugandan shilling and Tanzanian shilling stayed flat at UGX 3,602.9 and TZS 2,244.0 per dollar. The Nigerian naira depreciated to reach NGN 356.5 per dollar, mainly due to a high demand. The Ghanaian cedi appreciated marginally to reach at GHS 4.4 against the US dollar due to improved liquidity conditions, despite some marginal demand pressure (refer to pages 8 and 9 for details.