Foreign Investors’ Activities Dwindle in Thursday’s Session

Foreign investors reduced their activity in Thursday’s session to account for 34.85 percent of total market activity from 49.87 percent.

During the session, the market witnessed 81.58 percent of trades from the desk spread between Safaricom Limited and Kenya Commercial Bank Group.

Safaricom entered its second-day exuding bullish activity to record the day’s highest foreign inflows while KCB recorded the day’s highest net foreign outflows. On the overall, the desk recorded net outflows for more than two weeks in a row.

Equities displayed poor performance in Thursday’s session with all major indicators closing in the red.

Turnover levels came off to 369.61 million shillings as shareholders’ wealth disappointed by 4.34 billion shillings.

The advance: decline ratio showed that only nine counters advanced vs. 15 decliners while the rest remained unchanged in price, in the session. KCB Group Ltd (NSE: KCB) moved 2.7 million shares to be the day’s highest mover exuding more local investor interest than foreign interest.

The counter remained unchanged in price in the session. Local investor participation increased in the session with most activity in the banks, pushing all top five traded counters except Safaricom Plc (NSE: SCOM) whose activity was driven by foreign investors.

Bonds turnover increased to 2.01 billion shillings on 50 deals in Thursday’s session from 1.37 billion shillings recorded in the previous session on 29 deals.