Equities on a Gaining Frenzy for the Sixth Session

Equities persisted a gain trend for the sixth session in a row with all major indicators closing in the gain territory on the higher turnover at the Nairobi Security Exchange.

Safaricom Plc (NSE: SCOM) was the highest traded counter closing 4.67 percent higher in the session on the back of foreign buying activity.

The top banks (EQTY and KCB) were the second and third traded counters (respectively) accounting for 26.8 percent of the total market activity.

Foreign investor activity accounted for 51.0 percent of total market activity, 1.7 percent lower than the previous session.

Safaricom Plc (NSE: SCOM) continued being the desk’s favorite buy, accounting for 44.5 percent of total foreign trades and recording the day’s highest inflows of 123.7 million.

Nation Media Group Ltd (NSE: NMG) recorded the highest net outflows in the session of 23.8 million shillings.

East African Breweries Ltd (NSE: EABL) and KCB Group Plc (NSE: KCB) also exuded foreign selling activity with foreign investors taking profits on the counters. Bullish sentiment from the desk was also seen in Centum Investments Plc (NSE: ICDC) logging the session’s second-highest net inflows of 9.4 million.

Foreign investors were overall net buyers in the session for the fifth session in a row after 8 successive sessions of net selling activity.

Bond turnover levels increased by a further 61.2 percent in the session to 2.3 billion shillings on 28 deals from 1.4 billion on 32 deals previously.