Equities Close in the Red on Wednesday’s Session

Equities closed the session on Wednesday in the red with all major indices trending south on lower turnover compared to the previous session.

Safaricom Limited was the day’s highest traded counter with 53.5 percent of total turnover, closing 3.39 percent lower at 28.50 shillings per share.

The rest of the top five traded counters, KCB Group, Kenol Kobil, East African Breweries, Equity Group Holdings and Bamburi Cement accounted for 37.4 percent of total market turnover.

The top five counters attracted activity fairly from both the local and foreign desks with local investor participation ticking up to 53.83 percent in the session.

Foreign investor activity waned slightly in the session to account for 46.17 percent of total market activity from 49.21 percent recorded previously.

“We saw activity mainly in Safaricom, KCB, Kenol, EQTY, and Bamburi which collectively accounted for 96.46 percent of the desk’s trades,” said analyst from Genghis Capital.

Safaricom held the lion’s share at 57.28 percent of the total foreign trades, exuding net selling sentiment in the session and recording the highest net foreign outflows. On the overall, foreign investors were net sellers in the session, for the seventh consecutive session.

Bonds turnover burgeoned in the session to KES 4.79Bn on 67 deals compared to 5.49 billion shillings on 57 deals recorded previously.