Equities Kicked Off the Week on Mixed Trend but Market Still Blooming

Equities opened the week on a mixed note as the NASI and NSE 25 closed the session in the green while the NSE 20 lost ground in Monday’s session, mirroring Thursday and Friday’s performance.

Turnover was up 5.27 percent on increased local investor activity, who moved trading in Diamond Trust Bank Kenya Ltd (NSE: DTK) and most of Barclays Bank of Kenya Ltd (NSE: BBK).

Safaricom Plc (NSE: SCOM) held the top mover position, accounting for 27.3 percent of total market turnover. The top five accounted for 73.5 percent of total market turnover while closing in the gain territory save for DTK which closed unchanged in price at 196.00 shillings.

Foreign investor activity retreated to 44.9 percent of total NSE turnover, a 7.3 percent decrease from the previous session with trading mainly inclined towards Safaricom Plc (NSE: SCOM) where they bought into the counter.

Additionally, the desk took net buying positions in KenolKobil Ltd (NSE: KENO) which recorded the highest net inflows while net selling activity was seen in Barclays Bank of Kenya Ltd (NSE: BBK) to log in the highest net outflows.

On the overall, foreign investors were net sellers in the session for the second consecutive session.

The bond turnover increased to 1.22 billion shillings (+38.9%) from 0.88 billion shillings on 50 deals compared to 38 deals in the previous session.