Equities Remain Subdued As the Week Comes to a Close

Equities’ performance remained subdued in the session despite one of the indices, NSE 20 closing the session in the green as the NSE 25 and the All Share indices trended south.

Turnover ticked up 15.91 percent higher than the previous session on 38.03 million shares traded while shareholders’ funds reduced by a further 10.71 billion shillings in the session.

Safaricom Plc (NSE: SCOM) continued to dominate the equities’ market albeit with a paltry 28 percent of total market activity compared to 53.8 percent recorded previously.

Notably, of the top five movers, KCB Group Ltd (NSE: KCB) and Cooperative Bank of Kenya Ltd (NSE: COOP) were mainly traded by the local desk.

Foreign investor activity reduced significantly to 38.9 percent of total market activity from 69.16 percent logged in the previous session.

Safaricom Plc (NSE: SCOM) still dominated the foreign desk for the 16th consecutive session exuding net selling interest for the second consecutive session.

The counter closed at 26.75 shillings the lowest price in twelve sessions and recorded the highest net foreign outflows.

Equity Group Holdings Plc (NSE: EQTY) recorded the day’s highest net foreign inflows amounting to 5.67 million shillings. The foreign desk logged net selling activity in today’s trading for the second session in a row following a four-session net buying streak.

The bond turnover levels increased to 2.39 billion shillings on trading 62 deals compared to 1.07 billion shillings traded on 39 deals in the previous session.