Equities Post Varied Performance as Shareholders’ Wealth Blooms by KES 8.4 Bn

Equities put up a varied performance in Tuesday’s session with two of the major indicators closing up (NASI & NSE25) while the NSE20 closed in the red from the previous session.

Turnover levels declined further to close at 514.13 million shillings while shareholders’ wealth grew by 8.4 billion shillings in the session.

Safaricom Plc (NSE: SCOM) floored Equity Group Holdings Plc (NSE: EQTY) to rank as the day’s highest mover and closing 0.88 percent higher to 28.50 shillings per share on the back of local investor interest to get into the telco.

The top five traded counters accounted for 77.6 percent of total market turnover while attracting more foreign investor participation than local investor participation except for Bamburi Cement Ltd (NSE: BAMB) and KCB Group Ltd (NSE: KCB) which exuded a contrarian trend.

Foreign investor activity increased by 25.7 percent to account for 54.7 percent of total market activity most of which was in Safaricom and Equity.

“We continued to see net selling activity from the foreign desk for more than ten sessions in a row. The telco recorded the day’s highest net foreign outflows while Centum Investments Plc (NSE: ICDC) recorded the day’s highest net foreign inflows similar to the previous session,” said analysts from Genghis Capital.

Other notable sell-offs from the desk were in Kenya Commercial Bank, Bamburi, Equity Group and Co-operative Bank of Kenya.

The bonds turnover increased to 4.57 billion shillings on 40 deals in today’s session from 3.28 billion shillings recorded in the previous session on 72 deals.