Equities Dip Further During Thursday’s Session but Still Going Strong

Equities further dipped in the session with all major indices closing south in the session as turnover levels came down 32.9 percent to 958.03 million shillings.

Shareholders’ wealth decreased by 18.63 billion shillings in the session during the session as the day came to a close.

Safaricom Plc (NSE: SCOM) held at the helm as the highest traded counter for the day and for more than ten successive sessions accounting for 53.8 percent of total market activity compared to 49.1 percent recorded previously.

All the top five movers were traded by the foreign desk except for Kenya Power and Lighting Company Ltd (NSE: KPLC) which exuded local investor interest.

Foreign investor activity ticked up slightly in the session to account for 73.66 percent of total market activity from 69.16 percent in the previous session.

Safaricom Limited (NSE: SCOM) still dominated the foreign desk for the 15^th consecutive session exuding net selling interest for the first time in seven sessions.

The counter closed at 27.0 shillings the lowest price in eleven sessions and recorded the second highest net foreign outflows.

NIC Group Plc (NSE: NIC) recorded the day’s highest net foreign inflows while East African Breweries Ltd (NSE: EABL) continued exuding selling activity and recorded the session’s highest net foreign outflows.  The foreign desk logged net selling activity in today’s trading, breaking a four-session net buying trend.

The bond turnover levels increased to 1.07 billion shillings on trading 39 deals compared to 0.49 billion shillings traded on 23 deals in the previous session.