Equities Elicit Mixed Performance As Safaricom Hits An all-time High

Equities elicited mixed performance in Thursday’s trading with the All Share and NSE25 Indices closing in the gain territory while the NSE 20 posted losses in the session.

Turnover ticked up driven by Safaricom Plc (NSE: SCOM) and the Banking sector counters with Safaricom’s share hitting an all-time high of 30 shillings per share.

“The Telco touched its all-time high of KES 30 in the session while Equity Group Holdings Plc (NSE: EQTY) and KCB Group Ltd (NSE: KCB) recouped their previous losses to gain 1.76% and 0.58%, respectively,” said analysts from Genghis Capital.

Cooperative Bank of Kenya Ltd (NSE: COOP) continued to attract local investors as foreign investors moved volumes in Diamond Trust Bank Kenya Ltd (NSE: DTK).

Foreign investor activity bounced back to account for 51.65 percent of total market activity compared to 39.41 percent recorded previously which was mainly on Safaricom Plc (NSE: SCOM) where foreign investors held onto both sides of the trades. We observed some sell-offs with some investors taking profit on the counter.

DTK recorded the day’s highest net foreign inflows while COOP recorded the session’s highest net outflows with the latter exuding net selling activity for the 4th consecutive session. On the overall, foreign investors were net sellers in the session for the fourth session in a row.

Bond turnover came off 69.42 percent to 1.39 billion shillings from 4.56 billion shillings on 68 deals compared to 66 deals in the previous session.