Equities Rebound As All Indices Close on Positive Trajectory

Equities rebounded on Thursday with all indices closing the day higher than it had in the first few days of the New Year.

The rebound, according to Genghis Capital, was supported by a 45.6 percent increase in the market turnover and the local investor interest.

Thursday’s activity centered on Safaricom Limited, the East African Breweries Limited and the Equity Group Holdings.

The three entities took the bulk of the total market turnover. They accounted for 70.3 percent of the total market turnover.

During the day, foreign investors dominated the market. They accounted for 74.3 percent albeit lower than the previous day where they accounted for 83.1 percent.

Buying interest was mainly on Bamburi Cement Limited and KenolKobil while selling centered on Equity Grup Holdings, Safaricom Limited and Barclays Bank of Kenya.

On the overall, foreigners were net sellers at the Nairobi Securities Exchange on Thursday were the net sellers for the third consecutive day of the New Year.

The bond turnover moved considerably higher to 2.39 billion shillings (+5,893%) from 40 million shillings on 42 deals compared to 21 deals in the previous session.