Equities Closes in the Red After Christmas Festivities

Equities’ put up a poor performance in the session with all major indicators closing in the red on very low turnover.

Safaricom Plc (NSE: SCOM) maintained the top mover position, accounting for 69.7 percent of total market turnover and closing lower at price.

Foreign investor activity ticked up to account for 76.1 percent of total NSE activity in Wednesday’s session from 65.1 percent recorded in the previous session.

Activity from this desk inclined towards Safaricom Plc (NSE: SCOM) which held as the top foreign traded counter (87.7% of foreign trades) exuding net selling activity for the fourth consecutive session recording the day’s highest net foreign outflows.

Diamond Trust Bank Kenya Ltd (NSE: DTK) recorded the session’s highest net foreign inflows of KES 0.59Mn. The foreign desk logged net selling activity in today’s trading, and for the fourth consecutive session.

The bond turnover levels retreated to KES 1.51Bn (-59.28%) on trading 36 deals compared to KES 3.71Bn traded on 76 deals in the previous session.

On Thursday, turnover opened lower, at KES 1.5Bn consisting of trades on the medium term tenors and IFB space; there has been a slight uptick in medium tenor demand.

Demand on the long-end remains consistent from asset managers as well as subdued demand on the infrastructure bonds.