Equities Post Mixed Performance As Foreign Investors Reign Supreme

By Juma Fred / November 30, 2017


Equities posted mixed performance with the All Share remaining unchanged while the NSE 20 and the NSE 25 indices closed higher and lower (respectively) in the session on Wednesday.

Shareholders’ funds increased by 34.76 billion from Monday’s session. Safaricom Plc (NSE: SCOM) was the highest traded counter accounting for 36.2 percent of total market turnover and closing unchanged in price.

Local investors bought heavily into Kenya Airways Ltd (NSE: KQ) following lift of suspension on trading the counter in Wednesday’s session. The firm has executed the share split and consolidation (4:1) which was reflected in client portfolios in the session with its share price ranging between 2.10-15.00 shillings. The counter touched a 52-week high, closing at 12.50 shillings (+135.85%) in the session.

Foreign investors came in strongly into the market accounting for 75.8 percent of total market activity with Safaricom Plc (NSE: SCOM) as the most foreign traded counter for the 6th consecutive session.

The telco accounted for 39.57 percent of foreign trading and exuded net selling activity recording the highest net outflows of 39.88 million shillings. KCB Group Plc (NSE: KCB) logged the highest net inflows in the session amounting to 33.56 million shillings and was the third highest foreign traded counter.

Kenya Airways Ltd (NSE: KQ) attracted foreign buying interest after its suspension from trading was lifted in today’s session. Foreign investors were overall net buyers in the session for the ninth session in a row after 8 successive sessions of net selling activity.

The bond turnover levels grew 104.33 percent in the session to 2.84 billion shillings on 30 deals compared to 1.39 billion shillings on 25 deals previously.

About Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. You can reach him on: (020) 528 0222 or Email: [email protected]

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