Equities Post Conflicting Performance on Wednesday’s Session

Equities’ posted mixed performance in the session with two of the major indices closing higher while the All Share Index depicted an overall price deterioration.

Turnover ticked up slightly, 3.29 percent to 924.17 million shillings with Safaricom Plc (NSE: SCOM) which accounted for 69.8 percent of total market turnover. All the top traded counters exuded activity from both the local and foreign desks.

Foreign investor activity picked up to 69.5 percent of total market activity from 53.5 percent recorded previously.

Safaricom Plc (NSE: SCOM) maintained the position as the top foreign traded counter exuding net selling activity for the first time this week. The counter has been on a downtrend in the past five sessions, remaining unchanged in today’s session from yesterday’s 26.00 shillings the lowest price in fifteen sessions.

The desk was bullish on Equity Group Holdings Plc (NSE: EQTY) which recorded the day’s highest net foreign inflows while Bamburi Cement Ltd (NSE: BAMB) posted the day’s highest net foreign outflows. The foreign desk logged net selling activity in today’s trading, breaking a two-session net buying trend.

The bond turnover levels ticked up to 1.30 billion shillings (+44.7%) on trading 25 deals compared to 1.59 billion shillings traded on 32 deals in the previous session.